EU leaders scramble to head off euro zone crisis

France24:

AFP – Italy and France called Friday for emergency G7 talks and the EU said it is working “night and day” to ready new rescue funding as eurozone lending costs soared and stocks plunged on alarm over renewed global recession.

As Europe scrambled to head off pressure on the single currency zone, Prime Minister Silvio Berlusconi said after telephone talks with President Nicolas Sarkozy that G7 finance ministers would meet “in a few days”.

Italy, which along with other euro giant Spain is in the eye of a financial storm, will speed up implementation of a package of austerity measures aimed at achieving budget balance, Berlusconi said in Rome after a wave of market panic.

More:  http://www.france24.com/en/20110805-italy-france-g7-euro-zone-debt-crisis-berlusconi-finance-usa-economy-markets

Categories: France

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.