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Mon Apr 19, 2010 8:26 pm
kimerajamm
Joined: 28 Nov 2010 Posts: 416
The leaders are expected to create a permanent system for handling financial crises that would take effect in 2013. They are at odds, though, about how best to cope with the disparate economic conditions across Europe, with debts and deficits in some countries, while Germany, France and other nations prosper.
German Chancellor Angela Merkel said the 27 nations in the European Union share the goal of a stable Europe with a stable currency, the euro, that 16 of the countries use. But she has been adamant in opposing an increase in the size of the $1 trillion bailout fund or creating pan-European bonds that would replace sovereign state bonds.
Germany has Europe's strongest economy but fears that continent-wide bonds would prove more costly for the country than selling its own.
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