A report prepared by the finance chiefs of the eurozone’s top 4 economies suggests the eurozone could create a treasury for the single currency and issue euro bonds in the medium term as the final stage of a fiscal union.

Chancellor Angela Merkel had resisted proposals to provide Italy and Spain with debt relief.Financial markets are on edge and international pressure for decisive action is rising.any sharing of debt or bank liabilities was  ruled out by Europe’s biggest economy Germany
short-term funding  on a limited and conditional basis, supervising banks by european central bank  will show a way to solve the euro zone crisis .

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