Euro Leaders Agree on New Treaty

    Mario Draghi,  President of the European Central Bank approaches a press conference in Frankfurt, Germany, Thursday, Dec.8, 2011. The ECB cut its benchmark interest rate by a quarter percentage point to 1.0 percent in an attempt to spur a slowing eurozone economy.  (AP Photo/Michael Probst)

    Michael Probst / AP Photo

    A long day of deliberation ended with European leaders agreeing to form a new treaty that will include 17 euro states and 6 other E.U. members. The signatories of the accord, which will likely  be ready by March, will provide the International Monetary Fund with euro200 billion ($268 billion). Officials have gathered in Brussels to discuss a plan spearheaded by France and Germany on how to discipline euro zone countries for overspending. The meeting went late into the night before Germany and France conceded to allow a new treaty to be formed without the agreement of all 27 nations.

    Read it at Associated Press