Eurozone crisis live: EU summit leaves France and Germany divided

François Hollande and Angela Merkel were split over issues such as eurobonds at last night’s dinner, sources say

7.46am: Here’s the official statement released by the EU leaders in the early hours of this morning, after last night’s informal summit.

We discussed the political and economic situation in Greece. We want Greece to remain in the euro area while respecting its commitments. We are fully aware of the significant efforts already made by the Greek citizens.

The euro zone has shown considerable solidarity, having already disbursed together with the IMF nearly €150bn euros in support of Greece since 2010. We will ensure that European structural funds and instruments are mobilised to bring Greece on a path towards growth and job creation. Continuing the vital reforms to restore debt sustainability, foster private investment and reinforce its institutions is the best guarantee for a more prosperous future in the euro area.

We expect that after the elections, the new Greek Government will make that choice.

7.40am: Good morning, and welcome to our rolling coverage of the eurozone debt crisis.

A few hours ago, the informal EU summit in Brussels ended after discussions which showed Europe remains deeply divided over the way through the crisis.

Speaking after the talks, sources told our Europe editor Ian Traynor that the rift between France and Germany widened, over the troublesome issue of collective borrowing.

We’ll be tracking all the reaction to the events in Brussels over the next few hours.

Also coming up … it’s a busy day for economic data, with the second estimate of UK GDP for the first three months of 2012 being released. Will Britain’s double-dip recession be confirmed? New surveys of Europe’s manufacturing and service sectors will also show how the region’s economy fared this month.

Here’s an early agenda:

French manufacturing/services PMI for May: 8am BST / 9am CEST
German manufacturing/services PMI for May: 8.30am BST / 9.30am CEST
German IFO business confidence survey: 9am BST / 10am CEST
UK GDP for Q1 2012, first revision: 9.30am BST


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