European Leaders Divided; Debt Crisis Worsens

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Spend more or pay down debt, that's the decision facing European leaders divided over how to handle the debt crisis.
They met for the final day of the latest economic summit Thursday in Brussels. But they left without a solution for sparking economic growth and restoring investor confidence.

As a result, the euro hit a new 22-month low and talk of a Greek exit is rising. The leaders did agree that each eurozone country should prepare a contingency plan in the event that Greece does leave.

France and Germany are divided on a solution to the debt crisis. Germany is leading a group that wants to follow through with austerity measures.

But another group led by new French President Francois Hollande is challenging how Germany has handled the crisis and says an increase of spending is needed to stimulate the economy.

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