Some financial observers in Germany are concerned over the European Central Bank’s purchase of sovereign debt from Eurozone countries, which they think compromises the independence of the ECB. In contrast, George Soros is advocating the creation of “eurobonds”, which would be issued by the EU to shore up the euro and provide financing for the bailout fund. French President Nicolas Sarkozy, however, says he absolutely will not discuss eurobonds during his summit meeting tomorrow with German Chancellor Angela Merkel. In reaction to Mr. Sarkozy’s pronouncement, European stock markets fell.
In other news, more than forty people were arrested after a peaceful EDL protest and counter-protest in the English town of Telford. Meanwhile, an ancient Roman city has been discovered under the Bulgarian capital, Sofia, during excavations for an expanded subway system.
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