EU 'Agrees' to Safeguard Banks

    A euro sign sculpture stands outside the European Central Bank (ECB) headquarters in Frankfurt, Germany, on Thursday, Sept. 8, 2011. ECB President Jean-Claude Trichet will probably resist calls to cut the benchmark interest rate today and may opt instead to increase the supply of cash to euro-area banks as the region's debt crisis worsens.

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    European leaders say they have mostly agreed to a general plan to save the euro zone from economic collapse by safeguarding banks. The officials are set to put together a last-ditch effort in Brussels to end the two-year debt crisis. Greece's default still threatens to push the world into a recession, and the leaders aim to have a plan by the self-imposed deadline of Wednesday.

    Read it at Bloomberg News