German Chancellor Angela Merkel today called for a new legally binding set of rules to control spending in all eurozone countries, with harsh fines for any rule-breakers.
Last week marked more bad news for economies across Europe, including Germany. If more countries follow suit this week, the crisis could reach its threshold
In yet another bad development in the eurozone debt crisis, Italy saw its borrowing costs skyrocket. And now a British regulator has called on U.K. banks to prepare for the possible disintegration of the euro.
The British government is officially creating contingency plans in case the Euro breaks apart as fears continue over the regions banking crisis. Other countries so far remain quite on following suit.
