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Economy
In reply to the discussion: STOCK MARKET WATCH -- Monday, 30 January 2012 [View all]xchrom
(108,903 posts)71. EU leaders struggle to reconcile austerity, growth
http://uk.reuters.com/article/2012/01/30/uk-eu-summit-idUKTRE80S0SY20120130
(Reuters) - European leaders struggled to reconcile austerity with growth on Monday at a summit due to approve a permanent rescue fund for the euro zone and put finishing touches to a German-driven pact for stricter budget discipline.
Officially, the half-day summit was meant to focus mainly on ways to rekindle growth and create jobs at a time when governments across Europe are having to cut public spending and raise taxes to tackle mountains of debt.
But disputes over the limits of austerity, and about Greece's unresolved debt restructuring negotiations with private bondholders, may sour efforts to send a more optimistic message that Europe is getting on top of its debt crisis.
The risk premium on southern European government bonds rose and stocks were lower on concerns about a lack of tangible progress in the Greek debt talks and gloom about Europe's economic outlook.
(Reuters) - European leaders struggled to reconcile austerity with growth on Monday at a summit due to approve a permanent rescue fund for the euro zone and put finishing touches to a German-driven pact for stricter budget discipline.
Officially, the half-day summit was meant to focus mainly on ways to rekindle growth and create jobs at a time when governments across Europe are having to cut public spending and raise taxes to tackle mountains of debt.
But disputes over the limits of austerity, and about Greece's unresolved debt restructuring negotiations with private bondholders, may sour efforts to send a more optimistic message that Europe is getting on top of its debt crisis.
The risk premium on southern European government bonds rose and stocks were lower on concerns about a lack of tangible progress in the Greek debt talks and gloom about Europe's economic outlook.
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