EU leaders seek to avert euro collapse at key summit – EUROZONE – FRANCE 24.

As the European Union summit begins, the ongoing crisis will dominate talks. Ahead of the summit Angela Merkel has already ruled out the introduction of Eurobonds, saying that the appropriate measures are not in place for such a move.

Europe appears more divided than ever, with Spain and Italy calling for EU help to bring down their high borrowing costs; and Angela Merkel dismissing their calls for assistance.

The German’s are worried at French calls for debt polling, instead of focusing of debt reduction. Angela Merkel said, “I fear that at the summit we will talk too much about all these ideas for joint liability and too little about improved controls and structural measures,”