by Calculated Risk on 7/10/2011 12:13:00 PM

From Reuters: Exclusive: EU calls emergency meeting as crisis stalks Italy(ht Rajesh, jb)

European Council President Herman Van Rompuy has called an emergency meeting of ... for Monday morning, reflecting concern that the crisis could spread to Italy, the region's third largest economy.
...
The talks were organized after a sharp sell-off in Italian assets on Friday, which has increased fears that Italy, with the highest sovereign debt ratio relative to its economy in the euro zone after Greece, could be next to suffer in the crisis.

Reuters reports that ECB President Jean-Claude Trichet, finance minister chairman Jean-Claude Juncker, European Commission President Jose Manuel Barroso and Olli Rehn, European Commissioner for Economic and Financial Affairs, will all attend.

The finance ministers will meet later in the day. On Friday, the European bank stress test results will be released. It will be a busy week for U.S. economic releases, and there will be plenty of news from Europe too.

Yesterday:
• Summary for Week Ending July 8th
• Schedule for Week of July 10th
• Graph Galleries