LONDON — European leaders took an important step - though only a partial one - toward stabilizing their economies at a summit Thursday night. They are making difficult changes that could have impact on the continent and the world.
European leaders gathered in Brussels from all parts of the region and nearly as many points of view. In the end, they agreed to move toward tighter control of banks in countries that use the euro, what is known as "banking union".
EU Council president Herman van Rompuy. "The urgent element now is setting up a single supervisory mechanism to prevent banking risks and cross-border contagion from emerging, and that's why the European Cou
