EU politicians have promised to deliver an ambitious and durable solution to a crisis that poses the biggest threat to the euro since the common currency was launched over a decade ago.
"The sovereign debt crisis threatens the very existence of the eurozone," said Howard Archer, chief European economist at IHS Global. "It is therefore absolutely imperative that European policymakers finally deliver a major package."
The latest talks have focused on three challenges: restructuring the Greek government's crushing debt load, strengthening European banks and boosting the effectiveness of a limited rescue fund.
While the stakes are high, expectations are dim. It took three months for comparatively modest crisis measures announced in July to be approved by all 17 euro area governments.
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