The 'on again', 'off again' meeting on setting up a new eurozone firewall, or bailout fund, at this week's EU summit is... off again. Media reports suggested that a meeting on Friday 2, March, was canceled due to German unwillingness.

This followed finance ministers at the G20 summit ruling out more cash to bail out the eurozone until the member states stumped up more themselves. However, an anonymous diplomat quoted by Reuters said, "It wasn't canceled because it was never officially on the agenda. There will instead be a mini-summit of eurozone leaders during the dinner on Thursday."

Herman Van Rompuy is also to be confirmed for a second term as President of the European Council and as President of eurozone heads of state, empowering him to both call and chair eurozone specific meetings. A meeting to discuss setting up of eurozone firewalls, essentially combing temporary and permanent funds into a single big bailout pot, is now expected to take place in March.

Liam Lever, liam@romania-insider.com