Poland’s finance minister says EU leaders have endorsed a continent-wide bailout for the banking sector.

The deal came during an EU leaders summit Wednesday, which is overshadowed by how to tackle the global financial crisis.

The agreement paves the way for all 27 EU nations to shore up national banks and other financial institutions. Under the plan’s broad principles, individual countries put up a total of euro1.7 trillion ($2.3 trillion) in guarantees and emergency aid to help banks.