German Chancellor Angela Merkel indicated on Monday that she will accept a grand bargain to give more support to some of the euro zone’s most troubled countries in exchange for more control over Europe’s spending. While worries grew over the debt crisis in Spain, Merkel said that it is up to Spain if they want financial aid. On Tuesday Spain warned that the moment where they can no longer borrow in the bond market is nearing. Financial ministers from the Group of 7 industrialized nations had an emergency meeting on Tuesday, while Europe’s shares inched up, in the hope that a deal to rescue the euro would be reached.
