News Summary: EU tackles financial, economic woes

News Summary: European summits aims at promoting growth and job creation

Associated Press
EU leaders win breakthrough EU budget deal
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French President Francois Hollande, right, waves to journalists as he arrives for an EU summit in Brussels on Thursday, June 27, 2013. European Union leaders meet in Brussels ostensibly to agree on ways to find more jobs for the young, who've been disproportionately punished by years of crisis and recession. (AP Photo/Geert Vanden Wijngaert)

HIGH HOPES: European leaders are heading into a summit aimed at ending the region's spiral of financial and economic turmoil with some hard-won credibility — recent progress on the European Union budget and future bank bailouts.

TOUGH PROBLEMS: The EU's 27 leaders were still at odds over how to step up the fight against unemployment, with a German-led group calling for structural reforms and others saying more spending was needed to kickstart growth.

FINDING WORK: Unemployment is at a record high of 11 percent for the EU and 12.2 percent for the 17 member countries that use the euro. It is far worse for the young who have been disproportionately punished by years of crisis and recession.

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