EU summit reaction mixed as Euro markets look on brightside

EU leaders have failed in a bid to make changes to the treaties which govern the European Union, a move which was seen as the best hope of rescuing the Eurozone from its current difficulties.

EU leaders have failed in a bid to make changes to the treaties which govern the European Union, a move which was seen as the best hope of rescuing the Eurozone from its current difficulties.

Britian blocked an agreement that would apply to all 27 members of the EU because it could not win concessions protecting the revenues of the City of London. The British Prime Minister, David Cameron, also balked at not winning guarantees for British sovereignty under the new EU structures France and Germany were demanding.

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