Saturday September 19, 2020

European chiefs clash on euro bonds as summit bogs down

European leaders clashed over joint debt sales as they called on Greece to stick with the budget cuts needed to stay in the euro and offered no immediate relief for recession-wracked Spain.

24th May, 2012
Alone she stands: German chancellor Angela Merkel speaks at a news conference following the European leaders summit at the European Council headquarters in Brussels yesterday.

European leaders clashed over joint debt sales as they called on Greece to stick with the budget cuts needed to stay in the euro and offered no immediate relief for recession-wracked Spain.

The 18th summit in more than two years of crisis fighting was marked by new French President Francois Hollande’s challenge to the German-dominated deficit-cutting orthodoxy that has failed to stabilise the euro area and led to speculation that Greece might be forced out....

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