Van Rompuy: Finance ministers agree bank recapitalisation scheme
The President of the European Union Herman Van Rompuy has said all EU finance ministers have agreed that a co-ordinated scheme is needed to recapitalise Europe's banks.
However, he has stopped short on giving details on the plan of action.
Addressing the media, Mr Van Rompuy said the full plan will be made known on Wednesday.
European leaders, including Enda Kenny, are holding talks in a last-ditch effort to find a solution to the debt crisis in the Eurozone.
Today's discussions centred on the European Financial Stability Fund, currently worth ā¬440b.
Leaders are looking at how to boost the fund to protect countries like Italy, amid concerns it could yet suffer a fate like Greece's.
Mr Van Rompuy also indicated that treaty changes will be needed if some of these policies are to be put in place.
