Euro’s fate seen at stake as leaders meet

Bond buybacks, a bank tax and a much bigger rescue fund are among options under consideration as euro-zone leaders prepare for a Thursday summit billed by economists as possibly the last chance to quell a sovereign-debt crisis now nearly two years old and save the euro.

“Anything other than a very decisive response could see the situation become irretrievable,” said Jonathan Loynes, chief European economist at Capital Economics in London.

The main goals are to finalize a second rescue package for Greece and take steps to prevent the debt crisis from spreading to countries such as Italy and Spain — Europe’s third- and fourth-largest economies, respectively. Leaders of the 17 nations that share the euro will meet Thursday afternoon in Brussels.

Read Full Article from MarketWatch

- Posted: 2011-07-20 13:44:57

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