EU leaders hold talks in attempt to protect Euro

THE leaders of the 16 eurozone countries held discussions late into the night in a bid to devise a strategy to protect the currency and the countries that hold it, including the creation of a European rescue fund.

They enlisted the help of the leaders of the world’s wealthiest nations including a call to the US President Barack Obama after the US Federal Reserve expressed concern.

They also talked to UK Prime Minister Gordon Brown to ascertain his views on taking stronger action against financial institutions after stocks plummeted around the world and the euro sunk to new lows against the dollar.