Twenty five of the EU's 27 member states have agreed to join a fiscal treaty to enforce budget discipline. The Czech Republic and the UK refused to sign up. And there's still the question about what to do about Greece. Joining us now is Duncan Crawford, European correspondent for our partner the BBC

European leaders have drawn up a new fiscal accord. In the new agreement, the European nations agreed on tighter budget regulations as part of an effort to reassure investors that the euro is a stable currency. "The most important question from our citizens, from our financial markets, our investors, are we 17 in the euro zone or are we one?" said Jerzy Buzek, the president of the European Parliament, on Friday. "Now is the answer. We are one."

European leaders meet in Brussels on Thursday for the start of a two day summit in what many are hoping will be a turning point for resolving the euro zone crisis. Expectations are high that a deal can be brokered by Germany and France to overhaul economic rules and create confidence in the beleaguered currency. Treasury Secretary Timothy Geithner met with European officials earlier this week, a sign of American interest in reaching a resolution. But some economists and politicians are beginning to question whether, from the U.S. perspective, the euro is really worth saving.

Early results show that Russian Prime Minister Vladimir Putin's party, United Russia, is on track to lose its two-thirds majority in the parliament's lower house.

Ten years after the first conference in Bonn, Germany on nation-building in Afghanistan, representatives from 100 countries came together Monday to chart a course for Afghanistan after NATO forces pull out in 2014. However, there were no delegates from Pakistan or the Taliban.

Italian Prime Minister Mario Monti is to meet Thursday with his German and French counterparts to discuss euro zone issues. On Wednesday, Germany attempted to raise €6 billion in 10 year bonds, but only sold €3.6 billion. Louise Cooper, markets analyst for BGC Partners in London, has the latest.

World markets plunged Tuesday after Greek Prime Minister George Papandreou announced a surprise plan to hold a national referendum on the proposed European bailout package, bringing the Greek government to the brink of collapse. Several members of Parliament's governing Socialist Party have called on Papandreou to resign, and some members of his own party have called for new elections immediately. A no-confidence vote is scheduled for Friday. Early Wednesday, the Greek cabinet backed Papandreou's referendum plan. Some analysts worry the referendum will bring Greece dangerously close to defaulting on its debt.

Federal regulators say hundreds of millions of dollars of customer money is missing from MF Global, the brokerage firm which filed for bankruptcy on Monday. It is unclear where the estimated $700 million has gone, and no one has yet been accused of wrongdoing. Headed by former New Jersey governor Jon Corzine, MF Global made risky bets on the European debt crisis. The Dow dropped 276 points in reaction to the news of the implosion, reminiscent of the Lehman Brothers collapse in 2008.

The European Central Bank announced yesterday it will work with the Federal Reserve to open new lines of credit to banks in the 17 nations that use the euro. The Bank of England, Bank of Japan and the Swiss National Bank are also pitching in to help. The ECB says it will allow banks in the euro zone to borrow money for three months — rather than the previous rule of a week — which injects dollar liquidity into European banks. The news comes as European banks are suffering from chronic financial squeezes.

The small eastern European country of Estonia will officially adopt the euro as it's currency on January 1. Boasting a population of just over one million, the 17th country to adopt the euro also has the lowest governmental debt in the EU. But who gets more from Estonia's transition? Many economists say the small country will benefit greatly from a more international currency, and Estonian officials seem eager to show the country's entrance to the West and independence from Russia and the former Soviet Union.

Will we or will we not see an extension to the Bush-era tax cuts? That is what we’re all waiting to see play out this week. Democrats want to return to Clinton-era taxes on the wealthy, and Republicans are holding out for preserving the status quo. But President Obama and Democrats may be backing off on their stance, as a compromise looks like it could be in the works. The Bush-era cuts would be temporarily extended to everyone, rich and poor, for two years...if unemployment benefits are extended as well.

It's Monday, which means it's time to take a look at what's ahead this week in the agenda with the help of Marcus Mabry, associate national editor for The New York Times, and Charlie Herman, The Takeaway and WNYC's economics editor.