The leaders, meeting in Prague for informal talks, are unlikely to come up with concrete measures on Friday, officials said, but should tell their energy and finance ministers which of the several available solutions to pursue further.
With the conclusion of the Summit, Richard Ross, Global Technical Analyst at Auerbach Grayson says, "It appears that the worst scenario has been avoided which is that they simply couldn't come up with anything constructive even though some steps have been taken."
Post the EU Leaders Summit, European markets are flat as investor sentiment remains confused. According to Robert Parker of Credit Suisse Asset Management, investors are going to wait until Monday to assess the final statements coming out of the Summit.
For 2012, Morgan Stanley economists are looking at a recession in Europe with the US flirting with the issue.
Nick Parsons of National Australia Bank says even though the markets have taken a U-turn, concrete action is needed at next week's EU Leaders Summit to see positive movement henceforth.