David Cameron has made it clear that Britain wants to maintain control over its banks.
The Prime Minister insisted that he wanted the Bank of England to remain in charge of regulating Britain's financial sector.
He also said that British taxpayers should not be asked to bail out eurozone banks.
Italian PM Mario Monti has won a concession from Germany over debt hours after Mario Balotelli helped Italy beat the Germans in Euro 2012.
European leaders have agreed that its banks should have direct access to EU bail out funds without adding to its government's debts.
As European leaders continue to work in to the night it is clear that there will be no big gesture here