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    November 24, 2011

European Leaders Discuss Eurozone Debt Crisis

   VOA News

   The leaders of Germany, France and Italy are meeting in Strasbourg,
   France, Thursday to discuss the European Central Bank's role in the
   eurozone debt crisis.
   French President Nicolas Sarkozy is hoping to persuade German
   Chancellor Angela Merkel to soften her opposition to allowing the ECB
   to act as a lender of last resort for troubled eurozone economies.
   Merkel also opposes borrowing through the sale of common eurozone
   bonds, rather than those issued by each individual country.
   Thursday's financial summit marks new Italian Prime Minister Mario
   Monti's first meeting with Sarkozy and Merkel since he took charge last
   week. He has promised to enact reforms intended to shore up Italy's
   economy.
   The summit comes after a sign of investor concern Wednesday about even
   the strongest European economy. An auction of German 10-year bonds
   failed to find buyers for more than $2 billion of the $6 billion in
   bonds offered with 2 percent interest rates.

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