Bank crisis to dominate EU meet

Europe's leaders have been racing to throw banks a lifeline European Union leaders are to discuss multi-billion-euro rescue schemes for Europe's ailing banks as they begin gathering for a summit in Brussels. The 27-member bloc is expected to rally behind plans agreed last week by officials from the 15-nation eurozone. British PM Gordon Brown will be warmly welcomed, after coming up with a rescue plan that other countries have copied, says BBC correspondent Jonny Dymond. But leaders will also be aware that the signs of recession are mounting. Germany, the continent's biggest economy, is on the verge of recession, a report said on Tuesday. But the leaders will try to keep the emphasis on joint action to unfreeze bank lending and restore confidence in the markets. "I am sure... there will be a common position," said European... [read full story]