Pretoria - Top leaders of the European Union have gathered in Brussels for a two-day summit aimed at further tackling the sovereign debt crisis in the hopes of avoiding the collapse of the single currency in the Eurozone.
As work took place outside on the new European Council building - the leaders inside also had some tough issues to tackle.
There are growing fears the euro might fall off a precipice, some are calling this summit the most crucial since the debt crisis began.
As they arrived for their 20th meeting in two years on Thursday, the leaders had never seemed so divided.
German Chancellor Angela Merkel was focussed on growth and employment.
"We've worked through a good programme especially as far as future investment is concerned, but also for more employment opportunities, especially for young people. I hope that we will be able to pass this pact today and therefore will be able to send out an important signal in addition to the fiscal pact," said Merkel.
Despite her talk of growth, she's an advocate of austerity. That position has set her apart from her neighbours. But Germany holds the purse strings - and therefore most of the power.
In recent days, Merkel has ruled out euro bonds and rebuffed pleas from Spain and Italy to underwrite their debts and bring down their borrowing costs.
Brenda Kelly, from CMC Markets, said the leaders could no longer be accused of "kicking the can down the road".
"A lot of these countries are doing what is politically useful for them rather than what is useful for the Eurozone as a whole, so I think that's why we are seeing the can pretty much flattened at this stage," said Kelly.
Italy is leading the calls for using European bailout funds to stabilise the markets, setting up a showdown between Merkel and Italian Prime Minister Mario Monti.

