EU summit begins with defence and banking union set to dominate agenda The last European summit of the year has got underway in Brussels, with the agenda dominated by defence and moves towards a banking union. Germany's Chancellor Angela Merkel and other leaders are expected to approve a banking deal struck by eurozone finance ministers. Critics question whether it will do enough to protect taxpayers. Meanwhile British Prime Minister David Cameron is expected to oppose any move to give the European Union a bigger role in coordinating defence policy , fearing this would undermine NATO and national decision-making. Talks are also likely to cover Ukraine and the Central African Republic, where France alone among European countries is on the front line. Britain may also find itself at odds with the EU on the principle of free movement over proposals for new constraints on migrants.