Dutch parliamentarians have officially approved the eurozone's new rainy-day fund, while their German counterparts are debating another cost-cutting bill. Meanwhile, the head of the ECB issued a rallying call in Italy.

European Central Bank chief Mario Draghi called for greater political vision among European Union leaders as the bloc seeks to combat its debt-related difficulties.

Speaking at Sapienza University in Rome, Draghi said the EU was at "a crucial moment in its history," and warned that "the process of European integration needs a courageous jump in political imagination to survive," according to a speech quoted by the AFP news agency.