03/01/2012 05:31 EST | Updated 05/01/2012 05:12 EDT

Europe's leaders hope to chart way back to growth as finance ministers check on Greece

BRUSSELS - Europe's leaders are travelling to Brussels hoping to chart the continent's way back to growth.

The two-day summit of EU leaders is for once taking place amid relative calm in financial markets, after the European Central Bank's latest massive injection of cash into fragile banks.

Investors have also been relieved that Greece looks likely to avoid imminent bankruptcy.

Finance ministers from the eurozone are also in the Belgian capital on Thursday to check on Athens' progress on reforms and cuts it has to implement before receiving a €130 billion ($173 billion) bailout.

Heads of state and government, meanwhile, will scrutinize each others efforts to boost growth and limit deficits amid a shrinking economy and high unemployment.