Europe’s austerity bites before Christmas

Holiday cheer turns into crunch for millions across the continent, as politicians battle debt crisis.

christmas crisis

The leaders of France and Germany have released more details of their plan to fix the European debt crisis. They include speeding up plans for a common corporation tax and a tax on financial transactions.

France’s Finance minister says Nicolas Sarkozy and Angela Merkel will not leave this week’s EU summit without a powerful deal.

But while politicians in Europe try to come up with an agreement on the euro, Christmas cheer has turned into Christmas crunch for millions of people across the continent.

Al Jazeera’s Nick Spicer reports from Berlin.

Source: Al Jazeera