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| Version 1 | Version 2 |
|---|---|
| Euro crisis: Summit abandons EU-wide treaty change | Euro crisis: Summit abandons EU-wide treaty change |
| (40 minutes later) | |
| Attempts to get all 27 EU states to back changes to the bloc's treaties to tackle the eurozone crisis have failed. | |
| Speaking after long talks in Brussels, French President Nicolas Sarkozy said the 17 eurozone states and others would work on a separate pact instead. | Speaking after long talks in Brussels, French President Nicolas Sarkozy said the 17 eurozone states and others would work on a separate pact instead. |
| France and Germany are pushing for tough new budgetary rules to be enshrined in the accord. | France and Germany are pushing for tough new budgetary rules to be enshrined in the accord. |
| But UK Prime Minister David Cameron said an EU-wide deal "isn't in Britain's interests". | But UK Prime Minister David Cameron said an EU-wide deal "isn't in Britain's interests". |
| A decision to press ahead without changing EU treaties does have benefits for the eurozone bloc, because it is likely to be less time-consuming, the BBC's Andrew Walker in Brussels says. | |
| 'No two-speed EU' | |
| After nearly 10 hours of talks between EU leaders, Mr Sarkozy said he would have preferred a new treaty involving all 27 member states. | After nearly 10 hours of talks between EU leaders, Mr Sarkozy said he would have preferred a new treaty involving all 27 member states. |
| But he said Mr Cameron had proposed a protocol to be written in the deal allowing London to opt-out on proposed change on financial services. | But he said Mr Cameron had proposed a protocol to be written in the deal allowing London to opt-out on proposed change on financial services. |
| "We could not accept this," Mr Sarkozy said. | "We could not accept this," Mr Sarkozy said. |
| Mr Sarkozy added that Hungary also decided to remain outside the proposed treaty, while the Czech Republic and Sweden wanted first to consult with their parliaments. | Mr Sarkozy added that Hungary also decided to remain outside the proposed treaty, while the Czech Republic and Sweden wanted first to consult with their parliaments. |
| "All the others have wished to join the inter-governmental treaty," the French leader said, stressing that the new deal should be drafted by March. | |
| But he denied suggestions that the new treaty would lead to a two-speed EU. | |
| Speaking at a news conference shortly afterwards, Mr Cameron said he had made "a tough decision, but the right one". | Speaking at a news conference shortly afterwards, Mr Cameron said he had made "a tough decision, but the right one". |
| "What's on offer isn't in Britain's interests," he said, adding that he would not put the proposed deal before British parliament as it was an accord outside EU structures. | "What's on offer isn't in Britain's interests," he said, adding that he would not put the proposed deal before British parliament as it was an accord outside EU structures. |
| Mr Cameron earlier repeatedly warned that he would veto any deal which could harm Britain's powerful financial services sector, including the City of London. | |
| During the talks, eurozone leaders agreed on tough new budgetary rules, which envisage automatic penalties. | |
| They also said a ceiling on the size of the eurozone's bailout would be capped at 500bn euros (£427bn; $666bn). | |
| Discussions on fine-tuning of these and other key issues are expected to resume shortly. |