Eurozone Leaders Discuss Emergency Market Measures

By: AP
By: AP

BRUSSELS (AP) -- French President Francois Hollande says the leaders of the 17 countries that use the euro are holding an unplanned meeting in the middle of the night to talk about emergency measures that might lower the borrowing rates of Italy and Spain.

Leaders of those two countries say their current borrowing rates are unsustainable. And they have refused to give their final approval to a proposed (euro) 120 billion ($149 billion) stimulus plan unless immediate measures are taken to help them.

Hollande also said early Friday that discussions on the future deepening of the Europe's economic and monetary union, as proposed by four senior EU officials, had been put off until October.


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