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Sun 20 Nov 2011 12:18 PM

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Markets jittery as Merkel and Cameron reveal rift over euro crisis

Investors fear lack of unity among EU's leaders on tackling debt crisis may worsen the situation

Markets jittery as Merkel and Cameron reveal rift over euro crisis
German Chancellor Angela Merkel (2nd R) and British Prime Minister David Cameron (R) wave to well-wishers as they leave the chancellery on November 18, 2011 in Berlin (Getty Images)
Markets jittery as Merkel and Cameron reveal rift over euro crisis
Cameron, whose country is a non-eurozone member, met Merkel amid sharp differences over handing more central power to Brussels as the eurozone tackles its debt crisis (AFP/Getty Images)
Markets jittery as Merkel and Cameron reveal rift over euro crisis
At a news conference in Berlin, Cameron and Merkel tried to paper over divergent views on European policy that have sparked a war of words between politicians and media in both countries (Getty Images)
Markets jittery as Merkel and Cameron reveal rift over euro crisis
European shares ended at a six-week closing low on Friday after comment from German Chancellor Angela Merkel cooled market hopes that Europe's largest economy would back monetary measures to tackle the euro zone debt crisis
Markets jittery as Merkel and Cameron reveal rift over euro crisis
Responding to a call for 'decisive action' from Britain's prime minister, David Cameron, Merkel said European Union institutions 'cannot pretend to have powers [they] do not have' (Getty Images)
Markets jittery as Merkel and Cameron reveal rift over euro crisis
European Commission president Jose Manuel Barroso (R) welcomes UK's prime minister David Cameron (L) prior to their bilateral meeting on November 18, 2011 at the EU headquarters in Brussels (AFP/Getty Images)
Markets jittery as Merkel and Cameron reveal rift over euro crisis
The leaders of Germany and Britain sent out conflicting signals on Friday about how to solve the euro zone's debt crisis and admitted they had failed to narrow differences over the introduction of a financial transaction tax in Europe (Getty Images)
Markets jittery as Merkel and Cameron reveal rift over euro crisis
European Union president Belgian Herman Van Rompuy (R) (AFP/Getty Images)
Markets jittery as Merkel and Cameron reveal rift over euro crisis
While the European Central Bank is not allowed to buy sovereign bonds on the primary market, a growing number of market participants have called for the central bank to intervene as a lender of last resort for struggling euro zone countries (AFP/Getty Images)