ECB May Dig Deeper Into Crisis Toolbox as Leaders Mark ‘Date With Destiny’

By Gabi Thesing and Jeff Black

The European Central Bank may delve deeper into its toolbox today to stimulate bank lending and fight off a recession as Europe’s leaders gather to lay the foundations for a fiscal union....
French President Nicolas Sarkozy and German ChancellorAngela Merkel are proposing to amend European treaties to tighten controls on budgets. In a joint letter to EU PresidentHerman Van Rompuy, the leaders said they want a decision by the close of their summit tomorrow so that the measures can be ready by March next year.
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