Expectations low as EU leaders meet for summit to tackle debt crisis

Experts said their expectations are very low as European Union leaders gather for another summit on Thursday and Friday to try to tackle the debt crisis, and they warned that China will be further affected by economic depression in Europe.

The leaders are scheduled to discuss policy options to allow the EU to demand changes to member countries' budgets.

While a permanent bailout agency, the European Stability Mechanism, is set to be to put into operation after the summit, bailout proposals from Spain and Cyprus may be open to discussion. The summit will also discuss a growth package to deal with grave employment prospects across Europe.