Merkel, Monti Clash in Crisis Talks as Draghi Prepares ECB Plan
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German Chancellor Angela Merkel and Italian Prime Minister Mario Monti clashed over Europe’s debt-crisis fix, highlighting the hurdles faced by the region’s central banker as he seeks to cobble together an emergency plan.
Monti and Merkel publicly disagreed in Berlin today on whether the euro area’s bailout fund should get a bank license to boost its bond-buying capacity. The two leaders, who agreed on general principles of collaboration and budget discipline, must find common ground on details to enable European Central Bank President Mario Draghi follow through on his goal of stabilizing markets throughout the 17-nation euro area.