Wednesday, May 5, 2010

Europe leaders warn of contagion, 3 die in Greece | Reuters

Europe leaders warn of contagion, 3 die in Greece | Reuters

(Reuters) - European leaders warned on Wednesday that the euro zone debt crisis could spread like a bushfire beyond Greece, and investors sold stocks and the euro as Greek anti-austerity unrest claimed its first lives.

German Chancellor Angela Merkel said Europe's fate was at stake and France declared the euro was under speculative attack but said it would fail, while the Greek government vowed not to retreat a single step despite violence on the streets of Athens.

Three people, including a pregnant woman, choked to death when rioters set an Athens bank ablaze during a protest against wage and pension cuts that were the price of the 110 billion euro ($146.5 billion) EU/IMF bailout agreed on Sunday.

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