Spain and Italy leaders meet to discuss crisis

[October 29, 2012]  MADRID (AP) -- The leaders of Spain and Italy are meeting to discuss the economic crisis that is afflicting both countries.

The meeting Monday in Madrid between Spanish Prime Minister Mariano Rajoy and his Italian counterpart Mario Monti is part of a summit which has brought together ministers and business representatives from both countries. It is the fourth time they have met since they took office late last year.

Both countries are in recession as they struggle to get their public finances into shape.

Spain, which has an unemployment rate of 25 percent, is facing particular pressure at the moment to ask for outside aid to help deal with its debts.

[Associated Press]

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