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Aug 5, 2011 5:26 AM by Trovette Tottress

Merkel, Sarkozy to speak on euro crisis

BERLIN (AP) - German Chancellor Angela Merkel is holding a telephone conference with French President Nicolas Sarkozy today as stock markets around the world continue to slide on a combination of worries over the U.S. economy and Europe's debt crisis.

Germany's ARD broadcaster reports that the conference will also include Spain's prime minister. Global stocks are facing renewed selling pressure Friday, while the yield on ten-year Spanish and Italian bonds are ratcheting higher, up toward the 7 percent level that markets think are unsustainable.

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