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 Europe's rulers escalate crisis talks as panic threatens

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RR Phantom

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Europe's rulers escalate crisis talks as panic threatens Vide
PostSubject: Europe's rulers escalate crisis talks as panic threatens   Europe's rulers escalate crisis talks as panic threatens Icon_minitimeSun Aug 07, 2011 3:38 am
Italy has called for emergency G7 talks and the European Union worked ''night and day'' to ready new rescue funding as eurozone lending costs soared and stocks plunged amid fears of a renewed global recession.

Europe's rulers escalate crisis talks as panic threatens Credit16x9-408x264

As Europe scrambled to head off pressure on the single-currency zone, on Friday the Italian Prime Minister, Silvio Berlusconi, said after telephone talks with the French President, Nicolas Sarkozy, that G7 finance ministers would meet ''in a few days''.

''The situation is very difficult and requires co-ordinated action,'' Mr Berlusconi said after talks with several European leaders. ''We have to recognise that the world has entered a global financial crisis that concerns all countries.''

http://www.smh.com.au/business/europes-leaders-escalate-crisis-talks-as-panic-threatens-20110806-1igi3.html
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