Eurozone leaders agreed to fund banks that need to be recapitalized directly. Before the agreement, funds were distributed to the state and distributed to the banks. That increased the debt burden of the state and led to increases in the interest rates that they had to pay when they rolled over their debt. They also agreed to develop a method for supervising banking across the eurozone with a central finance ministry. There were also discussions about the development of a plan to stimulate growth in the eurozone.
It seems like the need to maintain the common currency, which is under pressure, is leading to a stronger role for greater integration in the eurozone.
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