The leaders of Italy and Greece are insisting on the “absolute need” to preserve the eurozone, as Greek politicians struggle to put together an austerity package critical to the country’s financial survival.
Italy’s Premier Mario Monti met Friday with Greek Prime Minister Antonis Samaras on the sidelines of a political conference in Rome. A statement from Monti’s office said the two leaders reiterated their conviction of “the absolute need to safeguard the integrity of the eurozone, stabilize markets and proceed in the process of European integration.”
Samaras’ coalition government has yet to agree on details of â‚¬11.5 billion ($15 billion) worth of cuts so the country can get bailout cash. Without the money, Greece might default and abandon the euro.
Monti was later meeting the leaders of Ireland and Spain.
via Yahoo Finance
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.