50 Airbus A320 jetliners valued at $3.5 billion will be bought be a state-owned Chinese company (Photo: EPA).
08.23 During the talks, Merkel reiterated that the eurozone has an "absolute political will" to stabilise the single currency.
08.11 The global jaw-jaw continues. This morning, German Chancellor Angela Merkel met Chinese Premier Wen Jiabao for talks in Beijing.
This is Mrs Merkel's second visit to China this year, and she is accompanied by the biggest German delegation to visit the country.
In a press conference following the meeting, Mr Wen said that fears over a Greek eurozone exit remained his primary concern. He said:
German Chancellor Angela Merkel and Chinese prime minister Wen Jiabao walk along an honour guard after Merkel's arrival in the Great Hall of the People in Beijing, China, 30 August 2012 (Photo: EPA).
08.05 Europe's politicial and economic leaders clashed yesterday over debt crisis resolutions, underscoring the sense of chaos and disunity between Brussels and the key eurozone economies, writes Louise Armitstead:
At a summit in Berlin, Angela Merkel and Mario Monti publicly stated they disagreed over the role of Europe’s new big bazooka bail-out fund. The Italian prime minister said the European Stability Mechanism (ESM) should have a bank license to be able to properly bring down Club Med borrowing costs. The German Chancellor said the plan was “incompatible” with EU treaties - and that she was backed by Mario Draghi, president of the European Central Bank,
Meanwhile Mr Draghi launched an attack on Germany: in an article for Die Welt, he argued that the ECB would need "exceptional measures" to curb the crisis and that Berlin’s interpretation of the bank’s mandate was too narrow.
Angela Merkel talks to Mario Monti in Berlin on Wednesday (Photo: Reuters)
08.00 Good morning and welcome back to our live coverage of the European debt crisis.
