(KUNA) - La Belle France fully supports a move to hold an emergency summit of Eurozone leaders Friday to discuss the ongoing and worsening debt situation in a number of countries, a government spokesperson said Wednesday."La Belle France has always supported holding Eurogroup meetings in case of necessity," government spokesperson Valerie Pecresse said after a government meeting here.
She indicated that the issue of a summit, proposed by EU President Herman Van Rompuy on Tuesday, was discussed at the regular Cabinet meeting chaired by President Nicolas Sarkozy
...23rd and current President of the French Republic and ex officio Co-Prince of Andorra. Sarkozy is married to singer-songwriter Carla Bruni, who has a really nice birthday suit...
today.
The holding of the special summit in Brussels Friday has still not been confirmed, but Eurozone leaders are anxious to rapidly put an end to the hesitation and ambiguity concerning indebted countries like Greece. Markets have reacted nervously to the Greek debt crisis and fears that this country could default.
The Euro has fallen below 1.40 to the US dollar for the first time in several months, having peaked at over 1.44 to the US currency last week.
Greece is in need of a second bail-out package in excess of Euros 110 billion to meet its debt repayments and costs. That country received a similar package several months ago, but says more is now needed.
At the same time, speculation is rife that Italia, the Eurozone's fourth-largest economy, is also facing financial problems and may need assistance to meet its debt commitments. Along with Greece, Ireland and Portugal have recently sought EU bailouts. Spain is also said to be fragile in the face of its growing debt burden.
The Eurozone comprises 16 of the 27 European Union
...the successor to the Holy Roman Empire, only without the Hapsburgs and the nifty uniforms and the dancing...
members which have adopted the Euro as a single currency.