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News Summary: EU officials mull even greater unity

Source : AP
Last Updated: Fri, Dec 07, 2012 04:45 hrs

: Four top European Union officials unveiled a report calling for a closer financial union that will clash with some member states' cherished national interests.

DETAILS, DETAILS: The report, which was vague on details, suggested the system would evolve out of Europe's current financial backstops, which include a bailout fund, a nascent banking supervisor and budget checks.

IT'S A START: The report will be used as a starting point for debate at next week's summit of EU government leaders as they seek a way out of the financial crisis by further increasing control over banks and National budgets.



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