EU summit to focus on euro crisis

High on the agenda will be controversial plans for a eurozone banking union, seen as a key element in restoring confidence in the euro, BBC reported.

In the run-up to the summit, Germany has been urging EU states to consider pooling more economic sovereignty.

Meanwhile Greece, which is at the centre of the European debt crisis, is braced for another general strike.

It will be its 20th since the debt crisis erupted in the country two years ago.

Talks in Brussels are also expected to focus on banking supervision, stricter fiscal oversight and direct recapitalisation of banks from rescue funds.

The summit will take place amid calmer European stock markets than in previous meetings and with less concern over the debt crises in Spain and Greece, analysts say.

Speaking on Wednesday, French President Francois Hollande said an end to the eurozone crisis was "very close" and he wanted a deal agreed on the first stage of a banking union.

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