|
(CEP News) - Speaking in a joint press conference in Berlin, German Chancellor Angela Merkel and Italian Prime Minister Silvio Berlusconi called for coherent action from European leaders over the crisis in the financial markets.
"Each country must meet its responsibility in this respect," Merkel said. Berlusconi said he agrees the crisis needs a common response from the European Union, but noted that leaders do not share the view of an EU-wide fund to shelter the banking system. Finding a solution is difficult, he added. The news comes as European finance ministers meet in Luxembourg to discuss possible solutions. Earlier on Monday, French Finance Minister Christine Lagarde said she does not support the idea of a euro area-wide banking fund. Several European countries, including Germany and Spain, have already announced plans to step up its deposit insurance regimes. By Erik Kevin Franco,
This email address is being protected from spam bots, you need Javascript enabled to view it
, edited by Nancy Girgis,
This email address is being protected from spam bots, you need Javascript enabled to view it
CEP Newswires - CEP News © 2008. All Rights Reserved. www.economicnews.ca The Copying, Broadcast, Republication or Redistribution of CEP News Content is Expressly Prohibited Without the Prior Written Consent of CEP News. A copy of CEP News disclaimer can be found at http://www.economicnews.ca/cepnews/wire/disclaimer. |
