EU considers extending bailouts to Greece and Ireland, Reuters first

Reuters reported exclusively on Jan. 28 that the European Union was considering extending its bailout loans to Greece and Ireland to 30 years in an effort to contain the region’s debt crisis. Quoting sources close to policymakers, Reuters also revealed that the EU was considering calling a special summit in early March to address the crisis, instead of waiting to reach final agreement on a policy package at a scheduled summit of EU leaders in late March. Reuters also published details of a Germany policy paper that outlined concessions which Germany wanted in exchange for its cooperation, including a euro zone pact to improve competitiveness. The scoops suggested accelerating progress in Europe towards a comprehensive policy package that will remake the euro zone in its second decade.