European Union leaders are set to hold an emergency summit on promoting growth and jobs on Oct. 7 at the suggestion of Italy, according to a draft of a statement to be issued after an EU summit on Saturday. Previous drafts before weak euro zone economic data in the past few days made no mention of the economic situation. In contrast the latest document read: "In recent weeks economic data have confirmed that the recovery, particularly in the euro area, is weak, inflation exceptionally low and unemployment unacceptably high." As a result there would be a summit, hosted by Italian Prime Minister Matteo Renzi on Oct. 7, ... (full story)