International Monetary Fund (IMF) Managing Director Christine Lagarde leaves the presidential palace after meeting with Cyprus' president Dimitris Christofias, unseen, in capital Nicosia, Cyprus, Thursday, Sept. 13, 2012. Lagarde is in Cyprus for an Informal European economic and financial affairs council. (AP Photo/Petros Karadjias)
September 14, 2012 - 2:12 AM
NICOSIA, Cyprus - Key participants in Europe's debt crisis are gathering in Cyprus to discuss the latest developments in Spain and Greece and the impact of the European Central Bank's plan to protect the euro.
For the first time in a while, finance ministers of the 17 euro countries gather Friday in a period of relative calm. Though the ECB's offer to buy short-term bonds of countries that ask for help has eased the pressure on markets and governments in Spain and Italy, the meeting still has much to discuss.
Greece's struggle to stick to its bailout commitments and Spain's deliberations on whether to tap the ECB offering will likely feature on the agenda.
ECB president Mario Draghi and International Monetary Fund head Christine Lagarde are also due to attend.
News from © The Associated Press, 2012