“‘You can never exclude such a possibility, but everything should be done in order to avoid such a possibility,” Juncker told reporters as he entered the summit today.
The second round of crisis talks in a month will follow a two-pronged approach, combining agreement of a second bailout for Greece with measures aimed at inoculating Italy and Spain from contagion. Policy makers have repeatedly failed to beat back turmoil that this week propelled the yield on Greece’s two- year bond above 40 percent and prompted U.S. President Barack Obama to express his concern to German Chancellor Angela Merkel.
