European leaders jolted by the sudden return of debt-crisis turmoil will gather for talks in Brussels this week as they attempt to restore investor confidence in the euro area.
After a week when European stocks went into meltdown, leaders including German Chancellor Angela Merkel and French President Francois Hollande will meet for a two-day summit beginning Oct. 23 with the region’s economy back on the agenda.
“It’s a wake-up call to the entire euro-zone leadership that the strategy that they have been following, with a strong fixation on the fiscal deficit targets, is not working,” Charles Dallara, the former chief of the Institute of International Finance, said in an interview Oct. 17.
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