As CNN reports, EU leaders were able to come to agreement on bank oversight at the summit held in Brussels last Thursday and Friday : http://www.bbc.co.uk/news/world-europe-19986603
However, as CNN Money points out, there are still many difficult issues left to work out:
http://money.cnn.com/2012/10/19/investing/european-union-summit/index.html
Also from Reuters: http://www.reuters.com/article/2012/10/21/us-eurozone-roadmap-idUSBRE89K0IO20121021
Also, tensions were clear between French President Francois Hollande and Germany's Angela Merkel:
http://www.bbc.co.uk/news/world-europe-19986603
By Sunday night, there were reports that Angela Merkel was threatening to cancel next month's summit to discuss the EU budget if David Cameron continued to threaten that he would veto any budget that didn't call for a total freeze on spending: http://www.ft.com/cms/s/0/a8fa9b08-1ba0-11e2-ab87-00144feabdc0.html#axzz29zWpDoma
The domestic politics of the situation are making negotiations difficult, as well as personalities. Leaders continue to move forward toward a banking union, but there are clearly some hurdles ahead that may derail or slow forward progress. In the meantime, Greece appeared to be making progress towards it's next disbursement as reported in the AP, "Greek Prime Minister Antonis Samaras moved closer to winning a delayed aid disbursement when European leaders praised his government’s budget-cutting push." more: http://www.sfgate.com/business/bloomberg/article/Greece-Nears-Aid-Revival-as-Samaras-Wins-EU-3963940.php#ixzz29zZMmHUd
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