Another failure to negotiate in Europe:
The impasse after two days of negotiations was the second failure this week in Brussels. European finance ministers met all night on Monday without reaching agreement on whether to release the next round of emergency aid to Greece, where unemployment is around 25 percent.
Herman Van Rompuy, the president of the European Council, which represents the leaders of European Union member states, convened the summit meeting and called off the negotiations rather than prolonging them through the weekend. He said that the European Union’s budget “has to be balanced and well prepared, not in the mood of improvisation, because we are touching upon jobs, we are touching upon sensitive issues.”
“We should be able to bridge existing divergences” in the new year, Mr. Van Rompuy said.