European summit did not come to full agreement

The European summit failed to reach a full agreement among 27 members on the treaty changes that might help to combat the Europe's debt crisis by stricter fiscal policy. However, a number of members agreed to raise the capital of the IMF by 200 billion euros for fighting the recession in the region. The full agreement on close fiscal cooperation failed after the UK demanded concessions which Germany and France did not want to give, reported Reuters.