European Leaders Grasp for Solution

Europe is growing anxious as its leaders show little progress in moving the ailing continent out of its financial hole and on to a path to stability. Adding to the trouble are warnings that Spain's debt might be downgraded amid a dearth of funds available for a bailout from the EU. Meanwhile, police clashed with protesters in Athens and other cities as countries react to new austerity measures. All eyes are on German chancellor Angela Merkel, who has insisted upon the Euro's soundness while rejecting bonds that would pool nations' debt. “It is undeniable that some euro-zone countries face difficult challenges," Merkel said. "But it is also undeniable that the euro has shown itself to be crisis-proof."