European officials are meeting today in Brussels to begin discussions on solving the growing debt crisis sweeping the region. Talks will center on the details for a second bail-out for Greece while finding ways to prevent Italy and Spain next falling victim to the debt contagion spreading through several economies.
“Today could see the next in a series of major initiatives to combat the corrosive pace at which this crisis is spreading,” Jim Reid, global strategist at Deutsche Bank AG in London, said in a note to clients today. “The European Union has a chance of winning a big battle even if the war proves far more difficult.”
Source: Bloomberg