Italy calls for emergency G7 to stem euro turmoil
Italy called Friday for emergency G7 talks and the EU worked "night and day" to ready new rescue funding as eurozone lending costs soared and stocks plunged amid fears of a renewed global recession.
Italian Prime Minister Silvio Berlusconi (R) speaks with Economy Minister Giulio Tremonti during a news conference at the Chigi palace, where he announced Italy will speed up a package of austerity measures approved last month to achieve budget balance by 2013. Italy called Friday for emergency G7 talks.
As Europe scrambled to head off pressure on the single currency zone, Prime Minister Silvio Berlusconi said after telephone talks with President Nicolas Sarkozy that G7 finance ministers would meet "in a few days".
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About the author
- Writer: AFP News agency
- Position: Agence France-Presse
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