FC2Video

EurActiv's EU Summit live coverage: http://www.euractiv.com/priorities/summit-set-path-greater-eu-integ-news-513553

This will be the fourth 'make or break' EU summit in a year. European leaders are gathering in Brussels later this week to come up with credible solutions to solve the euro crisis. But experts believe this meeting will be no panacea for the euro's problems.

International pressure is mounting amid fears of a full-scale economic crisis. EU leaders consider that more 'European integration' is the long-lasting solution that markets are so intensively demanding. A banking union and issuing the so-called 'eurobonds' are in the cards.

But Germany still wants more fiscal discipline. German Chancellor Angela Merkel has so far rejected pooling European sovereign debt or any sort of common deposit insurance. In her view, eurobonds could see Germany becoming the paymaster for the rest of Europe.

As recession and high unemployment spread across Europe, Merkel's austerity is becoming less and less ...