Politics Van Rompuy summons an emergency meeting in Brussels on Greece and Italy

The president of the European Advice, Herman Van Rompuy, has summoned for Monday an emergency meeting of high charges of the EU to discuss the efforts to assemble the second bundle of rescue for Greece and the increasing worries on the pressure of the market on Italy, said to Reuters three sources of the EU.

The president of the Central Bank of Europe, Jean-Claude Trichet, the president of the Eurogroup, Jean-Claude Juncker, the president of the European Commission, Jose Manuel Durao Barroso, and the European commissioner for Economic and Monetary Matters, Olli Rehn, they have been invited to the meeting in Brussels, said the sources.
It is foreseen that the conversations centre on the stagnant attempt of guaranteeing the implication of the private sector in the second bundle of rescue for Greece, and increasing worries on Italy.

The meeting will try to forge a clearer consensus between the persons in charge before the Ministers of Finance of the zone assemble euro later on Monday to tackle the topic of Greece and the results of the tension tests of the European banks, that foresees that they know each other on July 15.
http://www.eleconomista.es/economia...gencia-en-Bruselas-sobre-Grecia-e-Italia.html

Spain is worse than Italy, but in Italy the distinguishing one of debt with the German bond has raised spectacularly this week and his GDP is superior to that of Spain.

The difference between the debt of Italy is the following one, the national debt of Italy the Italians and his Banks have them, Italy has the biggest valuation of saving after Japan. Meanwhile French and German Banks have the national debt of Spain largely, for the system it is more dangerous that it falls down Spain for the effect it dominated, but the fact is that Italy takes a decade growing below 1 % and it is impossible that he returns what it owes, Italy only can go to worse.

Spain is taken control of facto from May of 2.010, if they fall down officially Spain and Italy, Belgium will go behind and of being France like that will not last, there is no any more fire-break that to put, in a given moment or the € breaks in two currencies or the Germans they leave of the zone €uro and return to the marco.

They are only now trying to deal with the American debt crisis.

http://www.euronews.net/2011/07/10/crunch-meeting-on-us-debt-crisis/

Critics of the EU should put European problems into global persepctive.