1. CONTINGENCY

    Europe to Greece: Stay in the Euro

    Ein Stern des Eurozeichen leuchtet am Freitag, 21. September 2007, in Frankfurt am Main vor der Europaeischen Zentralbank. Der Hoehenflug des Euros geht rasant weiter. Am Freitag durchbrach die Gemeinschaftswaehrung voruebergehend auch die Linie von 1,41 Dollar. Der Dollar fiel auch gegen andere Waehrungen ab und erreichte erstmals seit 31 Jahren eine Paritaet mit dem kanadischen Dollar. (AP Photo/Bernd Kammerer)   --- The Euro sign is seen in front of the European Central Bank in Frankfurt, central Germany, on Friday, Sept. 21, 2007. The euro kept up its unassailable upward march on Friday, breaking through US$1.41, and setting a new high, a record analysts said is likely to be broken again and again. (AP Photo/Bernd Kammerer)

    Bernd Kammerer / AP Photo

    It’s been a tumultuous few weeks in Europe. And now that it looks like Greece might leave the euro zone, other European leaders are planning for what could be explosive markets to follow. Most countries agreed that they should issue bonds to help members in financial turmoil, but German Chancellor Angela Merkel said that Greece would have to “uphold the commitments it has made.” The euro hit its lowest point against the dollar in two years as it dropped below $1.26 on Wednesday, as an eight-hour summit among European leaders did little to quell the financial problems roiling Europe.

    Read it at The Wall Street Journal