Yesterday, German demands for strict austerity were heard along with strategies on how to boost the Eurozone economy.

This months meeting of EU leaders is aimed at tackling high levels of unemployment and low growth within the EU.

Last night differences of opinion on growth versus austerity measures played out between Francois Hollande on France and Angela Merkel of Germany with decisions on lightening regulation in the single market due later.

An emergency meeting of eurozone finance ministers regarding an imminent bailout for Cyprus and the likelihood that its gov can burn senior bondholders as part of any deal will commence shortly afterwards.