12 EU Leaders Call For Open Markets To Fuel Growth

Published February 20, 2012 4:09PM (EST)

LONDON (AP) — A dozen European Union leaders, including U.K. Prime Minister David Cameron and Italian Premier Mario Monti, are calling for an open-markets strategy to stimulate growth and jolt the region out of its economic doldrums.

The 12 sent a letter to EU leaders Herman van Rompuy and Jose Manuel Barroso Monday, as Eurozone finance ministers meet to discuss a euro130 billion ($170 billion) bailout for Greece in exchange for harsh austerity measures.

There is growing concern in Europe that austerity aimed at cutting ballooning deficits may also be choking growth.

The letter urges European nations to deregulate their service, research and energy sectors and forge trade ties with growing markets including China and Russia.

The letter is signed by the leaders of Britain, Ireland, the Netherlands, Italy, Spain, Estonia, Latvia, Finland, Sweden, Poland, the Czech Republic and Slovakia.

By Salon Staff

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