Sources: not a statement of the euro area after the Sunday summit

10.23.2011 | (Voice of Iraq) - Add comments - BRUSSELS (Reuters) Several European Union sources said on Sunday that leaders of the euro area will not issue a statement after a summit Aakdunha on Sunday to discuss the debt crisis and that the decision is likely to undermine the confidence of financial markets in the ability of leaders to address the problem of debt. The sources said that heads of State and Governments of seventeen members of the euro area did not reach any conclusions about how best to recapitalize the banks and the promotion fund to save the region's $ 440 billion euros and to enable Greece to service their debt better, which makes any statement meaningless. It is now to reach an agreement in another summit will be held on Wednesday. The Summit will be preceded by a meeting of leaders of the European Union and twenty-seven to discuss what can be done to protect the area from the repercussions of a possible failure of Greek debt and the breadth of the economic crisis.