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French president François Hollande has backed the Spanish PM Mariano Rajoy’s proposal that the European Central Bank supports the public debt of countries complying with EU imposed austerity measures.
Spain and France demand ECB action – ABC
Yesterday evening the EU’s leader failed, despite the high stakes, to reach agreement on reviving Europe’s languishing economy. But there are too many internal disagreements amongst too many participants, writes the Dutch daily.
Growth plan EU doesn’t crystallize – Trouw
As EU governments prepare action plans in case Greece leaves the single currency, its leaders are calling on Athens to remain in the euro, while asking the country to continue drastic austerity measures in order to obtain financial support.
EU supports [Greece], but is preparing plan B – I Kathimerini
Eurozone nations have been advised to draw up emergency plans to handle Greece's possible exit from the single currency, it emerged during last night’s EU summit. Meanwhile, French President François Hollande clashed with German Chancellor Angela Merkel over his call for eurozone members to pool their debts by issuing eurobonds to lower borrowing costs for debt-ridden nations.
Eurozone set to abandon Greece — and austerity – The Independent
The EU summit has not only underscored differences of opinion amongst European capitals as to how to emerge from the crisis, but also great disparities between economic conditions in the eurozone. Stock exchanges have responded by dropping sharply.
Paris and Berlin air their differences – Les Echos
Eurozone member states are preparing for a Greek exit from the single currency by creating a working group of 17 secretaries of state for finance from all the countries concerned.
Contingency plans for Greek exit – Financial Times Deutschland
The Polish legal system will be paralysed during the Euro 2012 football tournament, warns Rzeczpospolita. Convicts are being moved from prisons in host cities and the fear of riots and battles between hooligans is so great that courts are to suspend routine proceedings and are preparing to hold extraordinary hearings at stadiums.
Eurohysteria in courts – Rzeczpospolita
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