EU leaders scramble to head off euro zone crisis


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.


Categories: France

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