Now ‘Inevitable’ That Greece Will Default ~ Special EU Meeting Announced For Friday
European Union leaders are poised to hold an emergency summit
after finance ministers acknowledged for the first time
that some form of Greek default may be needed
to cut Athens’ debts
and stop contagion to Italy and Spain.
“There will be an extra summit this Friday,” a senior euro zone diplomat told Reuters,
suggesting policymakers have been seized with a new sense of urgency
after markets started targeting Italian assets.