EU leaders consider new banking tax to tackle debt crisis

The head of the European Commission is warning that the eurozone is facing a very serious situation over its debt crisis.

Jose Manuel Barroso said today that the consequences of failing to reach agreement would be felt all over the world.

His comments come a day ahead of a summit in Brussels, designed to agree a new bail-out for Greece.

The German Chancellor and the French President are currently meeting in Berlin to discuss a range of options, including a possible new tax on banks.

Brian Milligan reports.