So, at a critical meeting of the EU's joint 'Head of State' billed as perhaps the most important in its history, the caucus has agreed the following;
1. A Eurozone banking supervisor based on the ECB to come into action in about two years
2. Once in place, funds can be lent directly to ailing banks. Except the Germans will still have the final say on any pay-outs.
3. A banking union to be developed for the 17 (says Cameron) or the 27 (says a Commission person) during some indeterminate period