Europe crisis spreads as Merkel resists big steps

Deutsch: Dr. Angela Merkel Bundeskanzlerin der Bundesrepublik Deutschland Vorsitzende der CDU Deutschlands (Photo credit: Wikipedia)

Milan • A growing number of European countries are being squeezed by a financial vise just days before a Greek election that could escalate the region's political and economic turmoil. The rise of Italian and Spanish borrowing costs to alarming levels Thursday heaped pressure on leaders to prevent Europe’s debt crisis from engulfing its largest countries. No grand solution appears imminent.

German Chancellor Angela Merkel opposes solutions that many experts are pushing that would increase costs for Berlin.

Merkel has found herself isolated from the leaders of Spain, Italy and France, who want the 17 countries in the euro currency union to move quickly to bind their governments’ finances and debt. ... Continue to read.

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