Europe

Europe: EU leaders are to meet in Brussels today in an informal summit to try to put a lid on the debt crisis from getting out of hand. Merkel's govt has still not changed its official stance from its opposition to Eurobonds preferring structural reforms over monetary solutions. The stage is set for France's Hollande and Germany who disagree on the solution for debt. The formal agenda is for jobs and growth coupled with 3 initiatives. 1) European project bonds for infrastructure 2) To double paid-in-capital to a little over 20b euros. 3) Redirect EU structural funds to other areas where it might produce greater growth This is a stepping stone for the nxt formal summit during the end of June.