European leaders pledged at least a billion euros worth of aid and a renewed sense of unity in dealing with the continent's migrant crisis on Wednesday, with European leaders telling CNBC that, after weeks of tension and division, the moves were a step in the right direction but not close to a solution.
EU leaders meeting in Brussels pledged 1 billion euros ($1.1 billion) to help United Nations agencies support Syrian refugees who remain in the Middle East. This will mean more help for countries like Lebanon, Jordan and Turkey.
The proposals is on top of an earlier vote this week to relocate 120,000 migrants throughout Europe, alleviating the strain on southern European countries like Italy, Greece and Hungary where migrants have tended to arrive.
Italian Prime Minister Matteo Renzi told CNBC late Wednesday that the proposals to grant more financial aid to frontline agencies satisfied Italy, a country where many migrants have arrived by boat.
"It's not a problem of money, it's a problem of ideas. For the first time, I think European institutions have shown a very important approach...For the first time the migrant question is not simply a question for single member states. It is a question for all European people and European institutions," he said.