Euro Crisis: Monti meets Merkel in Berlin

Italian Prime Minister Mario Monti has flown to Berlin to meet with German Chancellor Angelia Merkel before a new sale of Italian debt to discuss the current state of the Eurozone crisis.

Mr Monti is expected to call for the German government to support the recent European Central Bank plan to bring both Spain and Italy’s borrowing costs to a similar level as Germany’s.

Speaking before the meeting he said “while the imbalance is a serious issue for [the Italian and Spanish economies],it’s also a risk for countries that seem to benefit”. Mr Monti further warned that is the ECB plan was not supported that this could potentially lead to “a potential inflation risk in Germany”.

The two Eurozone leaders are expecting to hold a joint press conference later today.

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