European leaders, who met in Brussels on Thursday in their first day of an EU summit, agreed to accelerate the process of capitalization of the permanent European rescue fund, known as European Stability Mechanism (ESM), through completing all its tranches in 2015, one year earlier than planned.

EU President Herman Van Rompuy said It could be starting with the payment of two tranches in 2012 but we have to take a definite decision, where the final decision may come out today.

Also, the leaders said they will reevaluate the adequacy of the ESM ceiling by the end of the current month.