European Union leaders agreed Monday to strengthen a financial firewall and most members of the 27-nation group will sign a new fiscal compact. But the first summit of the year ended without new solutions for the debt crisis in Greece. The leaders of all but two members the 27-nation EU agreed to sign a pact designed to prevent governments from running excessive deficits and racking up unsustainable debts. For now, the Czech Republic could not sign up, while Britain already rejected the treaty, which was first announced in October. The leaders also agreed to implement the European Stability Mechanism, a permanent rescue fund, in July. The €500 billion ESM was originally set to enter into force next year, when a temporary bailout fund expires. "The early entry into force of this permanent firewall will prevent contagion in the euro area and further restore confidence," said European Council president Herman Van Rompuy. But the leaders did not propose any new measures aimed at resolving the situation in Greece, the nation at the center of the debt crisis in Europe. Van Rompuy welcomed the progress that has been made in talks between Greece and its private sector creditors, saying a deal could be reached in the coming days. He also called for a quick agreement on the terms of a second bailout for Greece, which is being negotiated with the EU, International Monetary Fund and European Central Bank.