Topic: Robert Hancke
As differences persist over how to handle the debt crisis, momentum builds among European Union nations to either drop the euro or form new currency alliances.
The Greece bailout package agreed to by European leaders and the International Monetary Fund last week decreases the likelihood of a Greek government default. But the wrangling over the bailout -- and the steps that left Greece in a financial hole -- raise questions about the prospects for the stability of the euro.
European Union leaders gathering for a crucial summit Thursday face tough choices: come to Greece’s rescue with the first ever bail out of a eurozone state or hold back and see if Greek spending cuts and reforms can avert a default.