The President of the European Union has announced that another EU summit will be held around the end of January.

Herman Van Rompuy said Thursday that the next summit will attempt to finalize budgetary agreements reached at a summit last week.

Last week's summit included a fiscal pact that leaders hoped would help solve the debt crisis of the 17 nations that share the euro currency.

Legal experts are working on how to turn the pact, which was agreed to in principle by 26 of the 27 EU nations, into law. Britain was the only country to vote against the measure, which would tighten budgetary discipline and move toward more economic union.