Reuters - Euro on hold as summit looms
Reuters reports: "The euro held steady on Wednesday, having lost some of its gloss as markets geared up for what could be a disappointing outcome at a keenly awaited European Union leaders' summit. Traders had clung to hopes that EU leaders would come up with a comprehensive plan to tackle the region's debt crisis at the summit. But news that a meeting of European finance ministers had been canceled fueled fears that any accord could lack details."

Comment: How this long drama plays out is anyone's guess, but I suspect it will cause the ten EU countries that are not in the Eurozone to feel a certain sense of pride at their good judgement. Will the EU disintegrate? Stay tuned!