Wall Street Journal
October 19, 2011
Euro-zone leaders have narrowed their differences but remain well short of a deal to try to bring the debt crisis to a close, according to people familiar with the situation.
With a crucial leaders' summit planned for this weekend, France and Germany are split on whether the private sector should be required to make a significantly bigger contribution to Greece's second bailout package than was agreed in July, participants in the discussions said.
Agreement on a Greek deal remains hampered by Berlin's push for a much bigger hit to the private sector than what was tentatively agreed in July, the people said. France, the European Central Bank and the European Commission remain very skeptical of greatly increasing the exposure of private-sector lenders.
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