Europe's recession fears driving agreement on debt

Eurozone leaders are meeting in Brussels today, trying to come to an agreement that would save the Euro, prevent a credit crisis, and deal with the Greek problem. They are meeting as new data shows economic growth has stalled in most EU countries which will only exacerbate the debt problems facing many of its members. The Guardian: The eurozone's two biggest powers, Germany and France, on Sunday launched an unprecedented attack on Italy to stop the rot by taking far more radical measures to reform its economy and get its debts under control. The German chancellor, Angela Merkel, and Nicolas Sarkozy, the French president, held a series of face-to-face talks with the Italian prime minister Silvio Berlusconi - who was then subjected to a roasting at the hands of other European leaders who are worried that the EU as a whole is on the verge of another deep-rooted recession. The onslaught on Berlusconi, now viewed as a liability across the whole of Europe, came as a fractious summit of the...(Read Full Post)

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