Euro leaders try to stem panic as Greek crisis goes global

Independent
"European leaders moved last night to shore up confidence amid chaos on global stock markets as the Greek debt crisis looked like spiralling out of control.Angela Merkel, the German Chancellor, Nicolas Sarkozy, the French President, and the leaders of the 14 other countries using the euro met for an emergency session but struggled to restore calm after weeks of dangerous indecision over whether or not to bail out Athens.Stocks plummeted from Wall Street to Tokyo yesterday and the euro hit a 14-month low against the dollar. The US President Barack Obama spoke with Ms Merkel before she departed for the summit and was said to be monitoring the situation closely. "