June 21 - Europe's new bailout fund is likely to top the agenda as the leaders of Germany, France, Italy and Spain gather in Rome
Spain's medium term borrowing costs soared direct -- new highs as rising concerns about global growth push as I'm commodities lower. Sluggish factory activity in China and Europe highlights the slowdown race -- led the Fed to extend its Operation Twist stimulus policy. When looking ahead the Euro zone's fourth biggest it has come together in Italy on Friday yet another attempt to thrash out a solution to the debt crisis. The leaders of Germany France Italy and Spain meets in Rome. As well as the debate of austerity but still no agreement on whether Europe's new bailout fund will be allowed to -- government bonds to help struggling economies. -- -- that European economist at standard Johnson says Europe's leaders seem as divided as ever especially on economic policy. Yet you agreements on whether growth should be intimidated and and how these gross should be intimidated. Some days -- the south argued that I'm more disgusting that he. You know mission to help you be keen to show them. Whereas some other countries have preferred to focus on longer time issue is a competitiveness. And supply side there reforms. And so you have huge disagreements. He intends Arafat economy party CNBC's. Programs you weighing on investor sentiment. While still with the Euro -- There's more gloom expected from powerhouse Germany on Friday all three of the monthly surveys from the respected he felt institute a cent to ten notebook in June. In May the main business sentiment survey dropped for the first time in seven months reflecting the political turmoil in the single currency area. And on the corporate front the Danish furniture group both concept is set to report a strong fourth quarter and full year results until Friday. The up market chain which specializes in -- design as outlets in fifty countries around the world. Kabul bank and that was such -- stop predicting a difficult year ahead given the economic global climate. Finally the next big -- in the right 2012 -- -- -- will be fraught with economic and political overtones. Germany and Greece lineup against each other but the winning going through the semifinals. -- many Internet jokes about how many goals -- Angela Merkel has told the creeks to concede. The Greek team want to retire from the field just after half time. Over the weekend -- come up against Spain in the quarterfinals on Saturday and England -- -- -- on Sunday. Let's all from us for now but do join as each weekday morning from Reuters today in a snapshot of the latest world news market headlines from central and give us -- I'm Nigel Stephenson. Is joins us.