EU leaders to meet Wednesday over sovereign debt crisis
Posted October 26, 2011 7:34 am.
This article is more than 5 years old.
European Union leaders are gathering for another summit, Wednesday, on the sovereign debt crisis.
The latest one is taking place in Brussels, Belgium.
It’s the 14th meeting in 21 months and again, as there’s diminished expectations for an all-encompassing deal.
Despite warnings from the market that they’re running out of time to solve the debt crisis and avoid defaults in Greece and possibly other indebted nations, officials have been lowering expectations of a breakthrough agreement.
That’s despite assurances from France and Germany, only weeks ago, that a “comprehensive solution” to more than two years of debt and economic turmoil would be found by the end of October.
What may come out of the meeting is a more consistent road map to a final agreement, focus on the Greek debt write down, bank recapitalization plan and European sovereign debt rescue fund, which may be expanded to over $1-trillion (U.S.).
