BUSINESS
07/10/2011 10:15 am ET Updated Dec 06, 2017

Greece, Italy Center Of Emergency Meeting Called By European Council

European Council President Herman Van Rompuy has convened an emergency meeting of top EU officials for Monday morning to discuss efforts to assemble a second rescue package for Greece and growing concerns about market pressure on Italy, three EU sources told Reuters.

European Central Bank President Jean-Claude Trichet, Eurogroup Chairman Jean-Claude Juncker, European Commission President Jose Manuel Barroso and the European commissioner for economic and monetary affairs, Olli Rehn, have been invited to the meeting in Brussels, the sources said.

The talks are expected to focus on the stalled effort to secure the private sector's involvement in a second bailout package for Greece, and mounting concerns about Italy after a heavy sell-off in Italian assets on Friday.

The meeting will aim to forge a clearer consensus among policymakers before euro zone finance ministers meet later on Monday to discuss Greece and the results of stress tests on European banks, which are scheduled for release on July 15.

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