Eurozone leaders agree ‘in principle pact'

Eurozone leaders in Brussels have come to a ‘in principle' agreement on economic policy, designed to rescue Europe from its debt crisis, European Union President Herman Van Rompuy has announced.

More detailed elements of the package are still under discussion, he says. The ‘in principle' pact will be a stepping stone to a more concrete agreement at a summit of all 27 EU states on 24-25 March. The BBC reports Rompuy tweeted the news, via social networking tool Twitter, saying: "We have an agreement on the Pact for euro." The message was later amended to: "Update from ongoing meeting: Agreement in principle on the Pact for the euro, but still discussing the other elements of the package." If a pact is agreed, members will have a say over each other's economic policies, wh...