| From AP: European officials urged the U.S. to join in a crackdown on speculators who bet against Europe's currency union, warning they might ban some credit default swaps — opaque financial instruments blamed for worsening the world financial crisis.
German Chancellor Angela Merkel said Tuesday that "quick action is needed," calling on the U.S. to "make a gesture" and curb the trades. Greek Prime Minister George Papandreou, in Washington to meet with President Barack Obama, is also calling for curbs on speculation that he blames for making his country's debt crisis worse..............................................Full Article: Source |