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'Growth and jobs are not things governments can buy or summon,' says Van Rompuy (Photo: consilium.europa.eu)

EU leaders: growth 'cannot be summoned' at will

EU leaders meeting in Brussels on Thursday (14 March) agreed to a more growth-friendly interpretation of deficit rules, but Germany and others insisted that austerity measures will work if given more time.

The softened wording - coming three years into the economic crisis, and amid rising unemployment and deepening recession in the eurozone - is being seen as a victory for France and Italy.

Speaking after the meeting, French President Francois Hollande indicated that member states...

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