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Europeans Struggle to Clear Hurdles to Latest Euro Rescue Plan

Sep 16th, 2011 07:47 by News

16-Sep (The New York Times) — European finance ministers struggled Friday to resolve hurdles that are holding up their latest rescue plan for the euro, as the United States Treasury Secretary Timothy Geithner warned that failure to act could leave “the fate of Europe” to outsiders.

The meeting comes at a time of continued anxiety in the financial markets, and ahead of a looming deadline for Greece’s foreign creditors to decide whether to release the next installment of its original bailout. If Greece does not get the €8 billion, or $11 billion, tranche, in October, it could be forced to default on its debts, with potentially catastrophic repercussions for global growth.

Author key: MK - Michael J. Kosares; GC - George Cooper; PG - Peter A. Grant; JK - Jonathan Kosares; RS - Randal Strauss. [see also 12 yrs of Discussion Archives]

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