Leaders of Germany, France, Italy and Spain to discuss proposals to ease debt crisis

The leaders of Germany, France, Italy and Spain gathered in Rome on Friday to seek agreement on ways to pull Europe out of its crippling debt crisis.

Germany's Angela Merkel, Francois Hollande of France, Spanish Prime Minister Mariano Rajoy and host Mario Monti of Italy will get together to push for consensus to give momentum to a crucial summit of European Union leaders in Brussels on June 28 and 29.

Monti has warned of severe consequences for the 17 countries that use the euro and the world economy if next week's summit fails.

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