EU Calls Emergency Meeting As Debt Crisis Stalks Italy

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European Central Bank President Jean-Claude Trichet will attend the meeting along with Jean-Claude Juncker,

chairman of the region’s finance ministers, European Commission President Jose Manuel Barroso and Olli Rehn,

the economic and monetary affairs commissioner,

three official sources told Reuters.

Van Rompuy’s spokesman Dirk De Backer said:

“It’s a coordination, not a crisis meeting.”

He added that Italy would not be on the agenda

and declined to say what would be discussed.

However,

two official sources told Reuters that the situation in Italy would be discussed.

The talks were organised

after a sharp sell-off in Italian assets

on Friday,

which has increased fears that Italy,

with the highest sovereign debt ratio

relative to its economy in the euro zone

after Greece,

could be next to suffer in the crisis.

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