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Wednesday, June 27, 2012

Merkel rebuffs pleas for debt action on summit eve

Demonstrators wearing masks depicting Merkel, Rajoy, Monti and Hollande, pose as they simulate playing a soccer match to protest against the euro zone debt crisis, in RomeBERLIN/MADRID (Reuters) - On the eve of a crucial summit that could determine the future of the euro zone, German Chancellor Angela Merkel brushed aside increasingly shrill calls from Spain and Italy on Wednesday for emergency action to lower their soaring borrowing costs. European Union leaders go into the two-day meeting beginning on Thursday evening more openly divided than at any time since a still-widening debt crisis erupted in early 2010 after Greece revealed its deficit and debt were far higher than reported. ...



READ THE ORIGINAL POST AT news.yahoo.com