European Central Bank in Germany
Media playback is unsupported on your device
Video

Crucial 24 hours in European debt crisis

The German Chancellor Angela Merkel and French President Nicolas Sarkozy are to meeting in Berlin ahead of an emergency summit of European leaders on Thursday.

The pressure is on them to come up with a second bailout plan for Greece. If they fail, countries such as Spain and Italy may soon find their own borrowing unaffordable.

Nigel Cassidy reports.