Summit of Euro leaders expected to agree tougher budgetary rules

A MEETING tonight of leaders from all the states who adopted the euro as their national currency will be only the second such summit in the 11-year history of the euro.

The leaders are expected to commit to tougher rules, both on their national budgets and on financial institutions, and discuss setting up a European credit rating agency.

But it waits to be seen if they will go further and propose a permanent structure to support any eurozone state that runs into difficulty, and so prevent another Greek debacle