US Treasury envoy en route to Europe for talks

A top US Treasury envoy is being sent to Europe to discuss the debt crisis facing the Eurozone.

Lael Brainard, the undersecretary for international affairs, is due to have talks in Madrid, Berlin and Paris to discuss economic developments.

A combination of the confirmed bailout deal for Ireland, and public reassurances from European politicians have failed to reassure investors, with new record highs recorded in Spanish and Italian bonds yesterday.

Markets across Europe have steadied somewhat today however, amid speculation that the European Central Bank could unveil new anti-crisis steps at a meeting tomorrow.