BRUSSELS Sat Aug 30, 2014 11:10am

European Union leaders are set to hold an emergency summit on promoting growth and jobs on Oct. 7 at the suggestion of , according to a draft of a statement to be issued after an EU summit on Saturday.

Previous drafts before weak  economic data in the past few days made no mention of the economic situation. In contrast the latest document read: "In recent weeks economic data have confirmed that the recovery, particularly in the euro area, is weak, inflation exceptionally low and unemployment unacceptably high."

As a result there would be a summit, hosted by Italian Prime Minister Matteo Renzi on Oct. 7, that would focus on "employment, especially youth employment, investment and growth". A "dedicated Euro Summit" would also be held in the autumn.