European crisis eyes at tomorrow on summit

European Union (EU) leaders, the day before the EU summit in the euro area debt crisis has made progress in fighting strategy.

However, the European Financial Stability Fund (EFSF) and Greece's loan decisions on enhancing the EU summit was the second to be held on Wednesday. French President Nicolas Sarkozy, the fight against the crisis of the European Central Bank (ECB), the request for the use of unrestricted funds was forced to give Germany's implacable opposition to it. Support in the euro area bond market for troubled emerging economies such as China and Brazil stated that it can evaluate benefit. German Chancellor Angela Merkel held a joint press conference, Sarkozy, "the European institutions from all the support does not get any solution to be applied.''He said. Merkel tomorrow, will be held at the summit will be the decisions of the crisis in overcoming the last step will not be stated. On the other hand, Bank of America Merrill Lynch, the S & P from then until the end of this year, another credit rating agency in the U.S. AAA credit rating could be slashed because of the announced budget deficit concerns.

VATICAN: Insufficiency of the IMF, NEEDED RADICAL REFORMS


Vatican Pontifical Council for Justice and Peace, in order to better manage the world economy 'global public authority' and 'Centre World Bank has called for radical reforms including the establishment of the global financial system. Economic policies and direction in making decisions 'to govern the world-wide authority over the countries' proposing the establishment of the Vatican, such as a reference point for the administration to begin with the UN, then recommended that an independent. The statement, the International Monetary Fund (IMF) is now organizing the supply of money to stabilize the financing of the world does not have the power and competence, as well as 'the amount of credit risk taken by the system' has been saved can not follow. President of the Papal Council for Justice and Peace Cardinal Peter Kodwo Apipah TURKSON, "Wall Street, people sit up, take the filter of perception and the world of humanity and serve the public interest in the role of financing of the administration to see whether they need." he said.