Europeâ€™s leaders plan a week of intensive shuttle diplomacy to help defuse the continentâ€™s debt crisis, as Der Spiegel magazine reported that the European Central Bank is considering a plan to put a cap on bond yields.
As the debt crisis continues to threaten the global economy, French President Francois Hollande and German Chancellor Angela Merkel will meet in Berlin on Aug. 23. Greek Prime Minister Antonis Samaras travels to the German capital the next day before going on to Paris on Aug. 25.
The talks come as the ECB fleshes out plans to curb the turmoil in European bond markets, a move that would give governments time to push through measures to revamp their economies. The ECBâ€™s governing council may decide at its next meeting in early September to set yield limits on the debt of each country, German news magazine Der Spiegel reported yesterday, without saying where it got the information.
A cap â€œcould be a major step to defuse tensions in the eurozone and buy time for the fiscal repair and pro-growth reforms to work,â€ said Holger Schmieding, chief economist at Berenberg Bank in London. An ECB official declined to comment on the Spiegel report.
A plan to set a target on bond yields would involve the ECB using its power to print money, Spiegel said. The central bank would publish the volume of purchases for each country, the magazine said. Bloomberg 
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