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Eurozone leaders to meet in Brussels to forge new Greek bailout, stem market panic

07-16-2011 08:03 BJT

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EU leaders plan to meet in Brussels next Thursday, to discuss a second bailout package for Greece, along with the financial stability of the whole Eurozone.

European Council President Herman Van Rompuy called the meeting Friday night after disagreements over the contribution of banks and other private investors to the rescue package rocked markets for much of the week.

The summit could be a critical moment, in determining what role private sector creditors play in the Greek crisis, as well as how EU leaders will stem the threat of debt contagion to Italy and Spain. Van Rompuy has indicated that senior finance officials will meet ahead of time, probably Wednesday, to finalize the agenda.

With the region's fiscal problems now threatening Italy, the Eurozone's third largest economy, leaders are being pressed to come up with a broader and more comprehensive solution to the lingering crisis.

Editor:Du Xiaodan |Source: CNTV.CN

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