BERLIN — With Greece’s membership in the euro zone teetering, fears of bank insolvency rising and Europe’s leaders bickering about what to do, the euro crisis is once again intensifying and threatening to undermine fragile growth globally.
At a summit meeting in Brussels on Wednesday, regional leaders failed to signal any concrete new steps to stimulate the sputtering regional economy or resolve the competing agendas of President François Hollande of France, who favors stronger steps to spur growth, and his German counterpart, Chancellor Angela Merkel, who has opposed aggressive moves to ease the pressure on Europe’s weakest economies…
…With international economic monitors warning that the Continent could slide back into recession, Spain has watched its borrowing costs climb to unsustainable levels, as concerns rise about the country’s weakened banking sector. Fears continue to grow that it will be difficult to avoid a messy divorce between Greece and the euro zone, with still unpredictable consequences …
via Leaders Bicker as Europe’s Crisis Gains New Urgency – NYTimes.com.
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