Thursday, July 14, 2011

European Leaders Delay Summit Meeting Over Greece

New York Times
July 13, 2011

European leaders on Wednesday delayed a proposed summit meeting in an effort to bridge crucial differences over the role of private investors in a second Greek bailout.

In addition, the German chancellor, Angela Merkel, was crucial in resisting pressure for a meeting on Friday, arguing that it would be too early to deliver the comprehensive package of measures needed to restore stability to the euro zone, one official briefed on the discussion said.

Mrs. Merkel is not opposed to holding a meeting of euro zone leaders soon, said the same official.

Herman Van Rompuy, the president of the European Council, hoped to organize the meeting for next Monday or Tuesday, said the official, who was not authorized to speak publicly.

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