www.euronews.net Markets, have slowly grown more positive after most European countries agreed to a Franco-German plan on fiscal unity. That is despite David Cameron's decision to veto the move after he failed to secure a set of exceptions for Britain, making it the only one of the 27 EU nations to say no. The European press were mostly unified in saying he has made a mistake, and isolated his country, perhaps paving the way for Britain to leave the EU altogether. In the German daily, Der Spiegel, the headline read 'The man who said no to Europe' adding:

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Dec. 8 - Investors turn their attention the EU summit on Friday, where French President Nicolas Sarkozy and German Chancellor Angel Merkel hope to push their plans through to save the region's single currency.

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Angela Merkel arrives at EU Summit in Brussels

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It's a waiting game for debt-laden Eurozone after this month's key summit in Brussels. Ratings agencies are sounding the alarm over heavy borrowing, while the EU failed to find the agreed-upon 200 billion Euros for its IMF fund, as the UK bowed out. And there's one recent Eurozone member, which finds itself reluctant to pay for others' debts, as RT's Aleksey Yaroshevsky reports. RT on Twitter twitter.com RT on Facebook www.facebook.com

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With the Eurozone's uncertain future, and EU leaders struggling to solve their economic woes, we look at whether the efforts of the bloc countries are actually offering any relief. British MEP Daniel Hannan says EU leaders cant' admit euro a failure because of political shame factor. RT on Twitter twitter.com RT on Facebook www.facebook.com

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Addressing fellow members of Europe's conservative political family, the European People's Party, German Chancellor Angela Merkel on Thursday reiterated her point of view that the European Union needs to overhaul the treaty on which it is based. Her comment, made in this speech in Marseille, came only hours before the start of the crucial EU summit in Brussels. Merkel appears to be on a collission course with other EU leaders such as French President Nicolas Sarkozy and European Council President Herman van Rompuy over the need to change the Lisbon Treaty. A change to the treaty would require lengthy negotiations and would require the approval of all the national parliaments of the 17 eurozone countries and the other EU member states that would sign up to the changes. C

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George Gero of RBC Wealth Management caught up with Kitco News to discuss the upcoming EU Summit and the possibility of stimulus in Western Europe, which "might not translate into good news for gold in the short term." Gero continues to explain, however, that it is somewhat inflationary with regards to long-term outlook. For Kitco News, Daniela Cambone reports. Join the discussion @ the Kitco Forums - www.kitcomm.com Follow us on twitter @ http Connect w/ Kitco News on Facebook - facebook.com Send your feedback to newsfeedback@kitco.com www.kitco.com

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www.euronews.net Prime Minister David Cameron has defended Britain's 'go- it-alone' stance' at last week's EU summit. He addressed parliament without his deputy, Liberal Democrat Nick Clegg. The issue has caused a rift in the coalition. But amid rowdy scenes in the House of Commons, the premier said he acted in the national interest by rejecting treaty changes aimed at tackling the euro crisis. "London is the leading sector for financial services in the world," he said. "Satisfactory safeguards were not forthcoming so I did not agree to the treaty."

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The EU summit's potential for stemming the eurozone debt crisis hinges on Germany, says CFR's Sebastian Mallaby. "The central question in the European summit is whether there can be enough rule building to satisfy Germany, in order to liberate enough money to stabilize the weaker economies," Mallaby says. For the European Central Bank to intervene more forcefully in the markets, Mallaby says, what is needed is "some kind of compact that pushes the system towards more rules against excess borrowing by governments in the future to satisfy the German voters that they're not sending money down a bottomless pit." www.cfr.org

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Yet another EU summit on trying to save crumbling Euro currency. Recorded from BBC Daily Politics, 08 December 2011.

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BRUSSELS (EUX.TV) - European leaders confirmed Thursday they would step in to prevent a spread of the Greek debt crisis if the Greek government is able to enact a series of stringent austerity measures. At the start of their two-day summit in Brussels, the EU leaders agreed that the situation was very serious. Without further help from other countries, help, Greece could be bankrupt by July, with disastrous knock-on effects for European banks. The EU leaders reiterated they were ready to offer Greece support only if parliament in Athens agreed to the latest consolidation package, which would legislate some 28 billion euros in tax hikes and spending cuts, as well as privatizations worth some 50 billion euros. That's supposed to happen in the coming days. The Greek prime minister was encouraged. But it remains to be seen if Greece will be able to deliver the required legislation. At the summit of the Eurpean People's Party, the Greek opposition christian-democrats did not commit to signing.

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www.euronews.net The EU's 27 heads of state file into a summit today with sounds off suggesting they will not clinch a significant deal on the eurozone crisis. The 17 eurozone finance ministers appear to have failed. With the Greek situation still perilously poised no hard numbers will be released as to how much a rescue will cost, or how it will be pulled off. All agree Greek debt needs to be slashed, banks need recapitalisation, the EFSF fund needs more money, and Italy needs more serious economic reforms or it will be the next nation in trouble.

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We gather together students from around Europe to discuss the future of continent after EU leaders agreed on a new accord which they hope will tackle the crisis.

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8 Dec 2011 Bloomberg Ian Bremmer is President of Eurasia Group, a political risk consultancy. Jens Larsen is MD Chief European Economist at Royal Bank of Canada Capital Markets. Background: A grand compromise is coming. Eurozone will stay together. Presenter -- Will the EU Summit work, what is working, and what happens if it doesn't? Ian Bremmer -- Well it is working. If you look at the new technocratic governments we have in Italy and in Greece, if you look at the new elections we had in Spain, the new Conservative government which is committed to austerity, in Portugal....that is what Germany wanted. The question is if you are going to play chicken with a very serious economic outcome and some point you will have to swerve away. Presenter -- Is this the swerve moment? Ian Bremmer -- No it's not quite! We are not going to get the bazooka. The Germans are not going to support Eurobonds yet. So tomorrow is a success but a limited success. Next year is still going to be muddle through, the markets still aren't satisfied with this.... Jens Larsen (he gets straight down to business) -- This whole analogy with bazookas and summits to end all summits is a little bit misguided. It makes progress in steps. Markets are losing patience. This summit is different. Sure I accept Draghi didn't tell us he is going to do Quantitative easing...continuing support for a gradual adjustment process, a nice technical word for muddling through. Presenter (you can see the fire in her eyes <b>...</b>

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www.euronews.net On his first EU summit, the new Italian Prime Minister Mario Monti was one of the protagonists of the long marathon to save the euro and strengthen fiscal discipline in member states. Monti played the role of mediator between Great Britain and the others, seeking agreement between the 27. Euronews Margerita Sforza spoke to him and first asked him if the agreement of the Council of Europe is enough to save the euro?

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This morning, the S&P 500 Index e-mini futures (ES Z1) have traded all over the map. In overnight trading, the S&P 500 e-mini futures traded as high as 1268.00 per contract. Right now, at 8:40 am EST, the S&P 500 Index e-mini futures are trading lower by 1.00 point to 1254.00 per contract. These markets are extremely volatile at this time. As many traders know by now, when the S&P 500 Index declines it will usually mean that the US Dollar Index futures (DX Z1) are moving higher. That is certainly the case this morning, the US Dollar Index futures are trading higher by 0.13 cents to $78.71 per contract. The news coming out of the European Union is fast and furious. The best way to follow the European news is to simply follow the US Dollar Index. Remember, the major stock market indexes trade inverse to the US Dollar Index.

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Gold Outlook Headed into EU Summit

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How unified is Europe? If the European Union summit is supposed to show this, then how divided should be the question since Britain blocked the EU attempt to tackle the debt crisis. This edition of News Analysis asks: Is this the beginning to an end?

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Michael talks about the EU summit and its expectations along with economic data out of Europe, risks to French credit rating, Greek haircuts and Bank recapitalisation. US economic data out this week includes US Q3 GDP, weekly jobless claims, US inflation and improving China data. In the UK he talks about UK Inflation and QE with Mervn King set to speak to UK select committee tomorrow. He also looks at the UK100, S&P500, EURUSD and GBPUSD

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Read Jeremy's story at www.euractiv.com Preparations should be made for European treaty change according to the conclusions from today's (23 October) EU summit, following a lengthy dispute over the relative powers of the eurozone and wider EU 27 countries. European leaders meeting in Brussels were unwilling to commit to any sort of far-reaching treaty change - given the requirements for domestic referenda this entails. But Germany insisted that provisions for "limited treaty change" were included in the conclusions. German Chancellor Angela Merkel wants such changes to beef up the disciplinary procedures governing eurozone countries and to ensure that they retain their domestic finances within sharply prescribed criteria. Merkel favours clauses enabling eurozone countries failing to keep their national debt within a 3% cap of gross domestic product to be liable to court censure under EU law. She also wants to explore the idea of a central European finance ministry, another scheme that might require treaty change.

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www.euronews.net The Presidents of the European Council and the EU Commission ruled nothing in or out at the conclusion of the summit of political heads ahead of a gathering of the 17 leaders from the eurozone. They will all be back around the table on Wednesday when concrete decisions are expected.

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Efforts by European leaders to shoe-horn a range of diverse countries into a rigid financial cage are doomed to fail. But that's all part of a long-term plan for a global super-currency which can only bring more hardship to ordinary working people. In Greek mythology, Procrustes was the son of Poseidon, God of the deep blue seas. He built an iron bed of a size that suited him, and then forced everybody who passed by his abode to lie on it. If the passerby was shorter than his bed, then Procrustes would stretch him, breaking bones, tendons and sinews until the victim fitted; if he was taller, then Procrustes would chop off feet and limbs until the victim was the "right" size... Adrian Salbuchi, political analyst, author, speaker and commentator talks to RT about the EU summit outcome. RT on Twitter twitter.com RT on Facebook www.facebook.com

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For more news and videos visit ☛ english.ntdtv.com Follow us on Twitter ☛ http Add us on Facebook ☛ me.lt More on the EU Summit, as British Prime Minister David Cameron says he will veto any treaty to fix the European Union's debt crisis if it fails to protect the interests of Britain. Here's the details. British Prime Minister David Cameron said on Thursday he would veto any treaty to fix the European Union's debt crisis if it failed to protect the interests of Britain, His remarks were aimed at reassuring eurosceptic members of his ruling Conservative party. Cameron is under pressure to return from an EU summit to reassure his restive right-wing. They see the current European crisis as a unique opportunity to reclaim powers from Brussels. Speaking in London before leaving for the meeting in Brussels, Cameron said he would fight to win a "good deal for Britain." [David Cameron, British Prime Minister]: "If I can't get what I want, I will have no hesitation in vetoing a treaty at 27 because I am not going to go to Brussels and not stand up for our country." Divisions over Europe tore apart the Conservative party last time it was in power in the 1990s and Cameron is painfully aware of how toxic the issue can be. Britain is the largest of the 10 countries that are part of the EU but are not in the single currency.

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www.euronews.net Europe's leaders arrived at the European Council for the crucial two-leg summit to tackle the deepening sovereign debt crisis. German Chancellor, Angela Merkel had already held a private meeting with French President Nicolas Sarkozy and Italian Prime Minister, Silvio Berlusconi ahead of the morning session worried about Italy's huge debt ratio which is second only to Greece's.

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A bid to change the EU treaty to resolve the eurozone debt crisis has foundered at a crunch summit in Brussels, after Britain refused to sign up without major concessions in return. French President Nicolas Sarkozy said the 17 nations in the eurozone would now press ahead to approve an inter-governmental treaty among themselves, setting a March deadline. Al Jazeera's Tim Friend reports from Brussels

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The Euro's future has been dealt a severe blow at eleventh hour talks in Brussels, as the UK refused to sign up to new EU treaties, leaving the rest of Europe to figure out a different approach. Marathon overnight talks mean the core Eurozone states will now make any further agreements among themselves, while other European countries can still join in to work out budget rules and changes. Paul Nuttall, who is a UK MEP, says David Cameron had no other choice but to veto the new treaty. RT on Twitter twitter.com RT on Facebook www.facebook.com

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In this video John Hardy analyses the outcome of the all-important EU Summit and if the new EU Treaty will work wonders or leave Europe high and dry.The EU Summit saw politicians battle it out in an attempt to help a struggling Europe get back on its feet and on the road to recovery. But the battle has so far exposed some dissidents, with the UK standing out the most and making one wonder if the UK is on its way out of the EU. An EU Treaty without the support of all members is a tenuous situation, says John Hardy.Nevertheless the nations still committed to the cause are willing to keep up their efforts and hopes are now set on the new treaty plus revised funding structures. But there are still several questions about where the money is really going to come from. As John points out there is still a pressing liquidity problem in Europe and even though the European Central Bank announced new liquidity enhancement measures they are hardly considered enough and neither is the idea of bringing the European Stability Mechanism forward.In the meantime the ECB's hands are tied due to its mandate so bond buying is out of the question and even if more rate cuts come they will do little help, adds John.All in all the events have done little to help the EURUSD which could break the 1.32 level by year end though as always the headline risks abound, he says.See more of John's commentary on TradingFloor.com

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A bid to change the EU treaty to resolve the eurozone debt crisis has foundered at a crunch summit in Brussels, after Britain refused to sign up without major concessions in return. French President Nicolas Sarkozy said the 17 nations in the eurozone would now press ahead to approve an inter-governmental treaty among themselves, setting a March deadline. Al Jazeera explain the financial implications of what has been agreed at the summit

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Angela Merkel, German Chancellor - Press Conference, EU Summit, Dec. 2010

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The euro's survival is about to be determined as European leaders gather for a key summit later on Thursday. They'll examine proposals from the French and German leaders, which could radically change how the Eurozone works. Strict budget discipline and a common corporation tax for the 17 single currency members are among the priorities. Chancellor Merkel and President Sarkozee are seeking to revise the 2009 Lisbon Treaty, which restructured the way the entire EU works. Britain is threatening to veto anything which might damage London's financial sector. The EU is already on watch for further credit downgrades if leaders don't act decisively in the next 48 hours. The man behind 2 of Belgium's leading business magazines and author of 'The End Of the Euro' - Johan Van Overtveldt says market reaction will be devastating if no real solution found. RT on Twitter twitter.com RT on Facebook www.facebook.com

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BBC Newsnight correspondent Michael Crick harangues Greek PM George Papandreou, talks to Nigel Farage about the death of the Euro and has a discussion with Brussels-watchers Geoff Meade, from the Press Association, and Anton La Guardia from the Economist who both express the view that we are at the point where the EU is being found out.

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It's the latest day of reckoning for the single currency, as Europe's leaders are set for a key two-day summit in Brussels that will decide the region's future. Germany and France are pushing for new EU treaties to bind the nations into a close-knit fiscal union with its own taxes and penalties. Michael Mross, who is an economic analyst and author of the book 'The Currency Crash', says EU politicians are 1st class Titanic passengers who don't realize what's going on. RT on Twitter twitter.com RT on Facebook www.facebook.com

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