Europe races towards a debt-day decision

As the eurozone debt crisis worsened overnight, with Spanish and Italian borrowing costs continuing to rise, Paris and Berlin were able to agree on only one thing: financial markets are now the enemy.

In Berlin, German Chancellor Angela Merkel warned that Europe was now “in a race with the markets” to turn itself into a full political union. Meanwhile, in Rome, French President François Hollande argued that Italy had been unjustly attacked by financial markets, and pushed for tighter controls on speculators.

For the full story visit Business Spectator.

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