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Eurozone 'standoff between Franco-German axis'

19 June 2012 Last updated at 14:49 BST

At the G20 summit yesterday, the President of the European Commission, Jose Manuel Barroso, rejected accusations that the EU was failing to get a grip on the eurozone crisis, insisting that a plan would be forthcoming at next week's summit. But what is the plan that the eurozone leaders have been working on and what are the risks they face?

Peter Spiegel, the Financial Times' bureau chief in Brussels, told The World At One that there was a continuing "standoff between the Franco-German axis" and he did not believe there would be a solution in the near term.