Greek Leader to Miss EU Summit; Hopes Fade of Action

Illness means both Greece's new prime minister and finance minister will miss an anxiously awaited summit of European leaders later this week and delayed a visit by the country's international lenders. ...

(Reuters) - Illness means both Greece's new prime minister and finance minister will miss an anxiously awaited summit of European leaders later this week and delayed a visit by the country's international lenders.

European shares were called to open slightly higher on Wednesday after closing flat in the previous session as investors waited on the sidelines ahead of a summit of European leaders on Thursday.

Oil fell slightly to below $79 a barrel Tuesday in Asia, taking its cue from weak global stock markets as hopes fade an EU summit will fix Europe's debt and economic problems.

Hopes of a solution fade as Germany refuses to budge on austerity, Cyprus joins list of euro zone nations in distress

Greek taxi drivers decided on Sunday to escalate their strike action until the government satisfies their demands."We will continue the mobilization until the problem is solved," union leader Thymios Lyberopoulos said following a union meeting convened in order discuss the future of their course of action.The taxi drivers, who oppose the government's plans to deregulate their sector, will gather Monday morning in front of the transport ministry hoping to meet minister Yannis Ragoussis after talks between the two sides failed on Friday.