Charlie Gasparino reports that European leaders are “turning their attention away from Greece” and are “going to turn their attention to creating a firewall around Europe.” Gasparino reports that leaders “believe they can get the Greece deal done” but are “default out of Spain and Italy.” Excerpts from the report can be found below, courtesy of Fox Business Network.
On how European leaders plan to prevent a meltdown of the financial system:
“U.S. bank officials are deeply concerned; CEO’s of Wall Street firms and major money management firms who have direct ties to the people at the IMF and the ECB and the European leaders working out this deal. As of now, they are basically turning their attention away from Greece. They believe they can get the Greece deal done. They are going to turn their attention to creating a firewall around Europe because the sovereign debt situation is still pretty bad, and the two countries high on that hit list are Italy and Spain. They are worried about a default out of Spain and Italy and it could come soon if they don’t get this under control.”