Eurozone Leaders Ready For Summit
By VOR
European Union leaders are preparing to meet for a closely-watched Brussels summit on the fate of the euro.
On the summit’s eve, German Chancellor Angela Merkel held two hours of talks with the French President Francois Hollande in Paris.
The two remain at odds on how to move forward, with Germany opposed to pooling debt while France insists the eurozone needs further integration. Mrs Merkel has warned there is no “magic formula” to solve the crisis.
European authorities have unveiled proposals such as the creation of a European treasury, which would have powers over national budgets.
The 10-year plan is designed to strengthen the eurozone and prevent future crises, but critics say it will not address current debt problems.
