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Australian Broadcasting Corporation
Broadcast: 28/06/2012
An EU summit tasked with solving the debt crisis and saving the euro has started in Brussels, with Germany and France already trying to smooth over their differences.
TONY JONES, PRESENTER: An EU summit tasked with solving the debt crisis and saving the euro has started in Brussels.The German and French leaders have already held pre-summit talks aimed at smoothing over their differences.
Germany says the best way to strengthen the economy is by controlling national budgets, but France insists European governments must share debt obligations.
Italy is warning of a disaster if leaders at the summit don't find a way to co-operate.
MARIO MONTI, ITALIAN PRIME MINISTER: If the public opinion sees that bad signals, not good signals are coming back from the markets, well then people may be discouraged and political forces which say, "Let European integration, let the euro, let this or that large country go to hell," might prevail, which would be a disaster for the countries concerned and for the whole of the European Union.
TONY JONES: Left-wing protest groups are urging the leaders not to forget the poor in their deliberations. Plans on the take include a $160 billion stimulus package and the creation of a European treasury with power over national budgets.
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