|Chancellor Angela Merkel of Germany and President Nicolas Sarkozy of France meet in Paris today to unveil a proposal for closer political and economic ties between the 17 euro countries. (Michael Probst/Associated Press/File)|
Summit could aid debt crisis solution
European leaders to meet Friday
Europe’s government-debt crisis, which has dragged on for more than two years, is entering a pivotal week, as leaders across the continent converge to prevent a collapse of the euro and a global financial panic that could result. Expectations are rising that Friday’s summit of leaders of the 27 countries in the European Union will yield a breakthrough. An agreement on tighter integration of the 17 EU countries that use the euro - especially on budget matters - would be seen as a crucial first step.