European officials to meet but crisis fix elusive

[June 21, 2012]  LUXEMBOURG (AP) -- Europe's finance ministers will meet in Luxembourg starting Thursday to discuss ways to halt the government debt crisis that is spreading across the 17-country eurozone.

Spain's government, which has seen a worrying rise in its borrowing rates in recent weeks, will discover how much money it will need to ask from its eurozone partners in order to shore up its banks. It will receive an independent audit of the banks before its finance minister meets his counterparts later in the day.

The ministers' meeting will try to make progress on wide-ranging solutions to the debt crisis that leaders hope to adopt by an EU summit on June 28. The leaders of Germany, France, Italy and Spain will meet in Rome on Friday.

[Associated Press]

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.