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Euro crisis: Leaders gather for emergency summit

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by Kay Mitchell

EU leaders are travelling to Brussels for an emergency summit – the 14th in 21 months – designed to tackle the euro zone debt crisis.

The summit will also see leaders discuss Greece’s second bailout, as well as boosting the €440 billion rescue fund.

There are still growing fears that Greece’s debt crisis could spread to weaker nations, such as Italy and Spain.

There are also doubts as to whether a comprehensive deal will be reached as bigger nations, such as Germany and France, disagree about how to increase the size of the rescue fund.

German Chancellor Angela Merkel said Germany’s prosperity depended on a solution to the crisis, while adding that nobody should expect quick solutions.

Meanwhile, British Prime Minister David Cameron has today said one of his goals is to stop the “contagion” of the euro zone crisis from spreading to Britain.

The PM is preparing to attend today’s summit and said: “Above all, the most important thing is the construction of the firewall of this European fund to prevent contagion taking place elsewhere.”

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News posted: October 26, 2011

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