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Euro Leaders Meet to Bridge Gap

Sarkozy and Merkel try to narrow differences ahead of EU summit.

By Mark Deen, Bloomberg | Updated on October 19, 2011

Euro-area leaders assembled in Frankfurt seeking to narrow divisions four days before a summit to solve the sovereign debt crisis.

A Franco-German split on the role of the European Central Bank in leveraging the euro bailout fund emerged at an event in Frankfurt today to mark the conclusion of Jean-Claude Trichet’s term as the ECB’s president. The disagreements among policy makers came as banks lobbied against forced recapitalization and deeper writedowns on Greek debt.

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