EU leaders seek to keep lid on debt crisis

Brussels, 17 June-(ANA)-EU leaders are to meet to tackle the challenge of getting economic growth back on track while reining in the worst public debts for decades.

Leaders are intent on preventing contagion from the Greek budget crisis.

Plans to improve budget scrutiny and sanctions to punish reckless spending will also be discussed.

Spain has announced budget cuts and, just hours before the summit, unpopular labour reforms to avoid a Greek-style meltdown.

The eurozone has set up a 750bn-euro (£623bn; $920bn) bail-out mechanism as a safety net in case any more countries suffer a similar debt crisis. (ANA)

FA/ANA/17 June 2010---------