BRUSSELS - After months of agonizing, leaders of the European Union are closing in on new oversight rules to ensure sound finances, prevent government debt crisis and restore the credibility of the euro.

But leaders remain divided on key issues. And some analysts argue that even the latest proposals can't fix the bloc's fundamental problems.

EU finance ministers will try to sort out two different proposals for stricter rules to back up the euro when they meet on Monday and Tuesday in Luxembourg, in hopes of a decision at a summit by heads of state and government on Oct 28 to 29.