Treaty change key to euro survival

THE euro faces a decisive week as European Union leaders, urged on anxiously by the United States, seek agreement on the definitive rescue plan that has eluded them for two years.

Despite short-term market optimism about a possible deal to save the single currency, the outcome is far from certain as the EU gears up for a summit in Brussels on Thursday and Friday.

EU Economic and Monetary Affairs Commissioner Olli Rehn said: “This week, the stable future of the euro and the economic recovery in Europe and employment are at stake. This calls for a convincing package of measures from the European Council (summit).”