The Euro is recording gains versus all other major currencies, hitting a four-month high versus the US Dollar as the European summit goes into extra-time. The leaders of the 27 countries, divided in two blocks with each defending opposing views over the size and shape of a proposed recovery fund, embarked on marathon talks on Friday to decide the future of the package. No agreement has been reached so far but the unusual extension of the discussions into Monday indicates a willingness by the two opposing camps to reach a consensus which, if grasped, could help create a more optimistic outlook for the Euro and the Union itself.
