Monday, July 11, 2011

Eurozone set for a busy summer of crisis talks

The eurozone's hope that it could enjoy a summer lull in its crisis has vanished as quickly as it appeared.

Last week, it seemed all sides would get a time out. Greece had avoided a default on its huge debts. Banks had agreed to roll over their holdings in Greek bonds, and finance ministers signaled that a second bailout would be agreed - though not before the autumn.

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Associated Press