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COLUMBIA, Mo. (AP) — Jimmy Tebeau discovered some sort of shuttered childhood camp serious from the Missouri Ozarks are the great physical place to get her thankful dead homage group — in order to intended for some other touring music artists and a large number of free-spirited enthusiasts. because 2004, their 350-acre campground — termed get away Zoe — has presented activities through their private band, this Schwag, along with prime operates such as the root base in addition to Los Lobos.monster beats but the song recently quit at Zoe, and from now on the actual dreadlocked pops — once regarded as a new experienced impresario between live performance causes as well as celebration organizers inside money-making improvisational songs world— is usually accused involving as being a purveyor of an illicit medication scene. the actual Zoe, based concerning 160 miles south west with St. Louis, staged their final conjunction at Halloween with 2009. the us government sued Tebeau within the fall of the year 2010, wishing to be able to use the particular campground and also almost $200, 000 throughout earnings by his Schwagstock live show sequence, when his or her very own group of musicians runs. A NEW four-year exploration by the say highway Patrol, U. VERTISEMENTS. meds Enforcement maintenance and the irs found "open sales" regarding cocaine, weed, LSD, Ecstasy, hallucinogenic mushrooms, opium and also marijuana-laced meals in camp Zoe inside a middle distance bazaar-like feeling where by drug vendors shouted profits pitches for you to passers-by coupled campground streets and walking trails, based on court written documents. Undercover agents manufactured in excess of 100 medicine secures. Tebeau declined to focus on the case, around the information associated with his attorneys. however their lawyer, Emmett McAuliffe, telephone calls the federal motion a strong overzealous achieve that will determine any troubling appropriate precedent — not intended for songs celebration causes, however additional business owners from the activities along with activity establishments. monster beats solo hd black limitedthat municipal steps is at carry pending the actual felony event. "It's unprecedented. it truly is inequitable. they may be positioning some sort of weight with your ex boyfriend which no one can meet, " mentioned McAuliffe. "Is presently there every conjunction promoter in the united states that will always be completely freed from the data of which now there is likely to be prescriptions used on his event? just about any basketball team proprietor? " the particular august seventeen issue accuses Tebeau plus stay workers involving with regards to the "immediate area" plus acquiring "no measures to be able to breakup as well as avoid most of these recognised gatherings" and seeks any civil utility forfeiture beneath some sort of federal government rules that will forbids decision makers through "profit(ing) out of or maybe offer regarding use" to get drug-related actions. the particular Ozarks stretch of land is usually respected on $600, 000. ANY spokeswoman to get OUGH. VERTS. law firm Richard Callahan declined thoughts. freeway Patrol Sgt. Marty Elmore, your spokesman with the section inclusive of Tebeau's Shannon local building, claimed the bureau regularly saw a upturn of banned action at Schwagstock trips given that Tebeau took over the property throughout 2008. public criminal arrest records at a number of basic safety checkpoints in the freeway intersection numerous a long way north with the campground demonstrate just about a single, 000 prison in addition to misdemeanor substance arrests in addition to underage alocohol consumption citations, seat belt violations and other offenses. "Certainly, whenever get away Zoe was in full movement, most of us do practical knowledge many drug arrests and a lot of meds task, " Elmore mentioned.monster beats turbine although your nov. you raid of the campground by an estimated eighty fed brokers along with area police force — one day following the "Spookstock" Halloween event — produced simply no drugs, McAuliffe said: "Not an individual (marijuana) roach. " Tebeau used personal safety protects to work festivals, yet his efforts that will generate off-duty sheriff's deputies as well as point out troopers had been non- connected, reported by McAuliffe. "If there were a challenge from lack of protection for the stay, there were all kinds of other ways the federal government perhaps have ended up with regards to making your get away safe, " he or she reported. "They could have made whatever narcotic busts that they wanted to produce. " information in the camping Zoe cirsis propagate quickly while in the quickly pull music group world, a variety with which has pushed the actual nationwide revival involving summer time songs conventions just like Tennessee's Bonnaroo plus Coachella in the lower idaho leave. very few festivity suppliers along with live concert managers contacted through the associated click have been prepared connect freely within the experience. but Rebecca leads to, promoter belonging to the total annual higher Sierra audio festival in north ca, mentioned the actual industry is usually keenly watching the Missouri instance.cheap monster beats headphones "It's surely chilling, " your lady reported. "I'm determined to find out exactly how everything shakes available. " concurrently, sets off known that will "each happening can be special, as well as has a romantic relationship using local government bodies. " in the matter of high Sierra, now around its 21st year or so, that may be recommended a being employed romantic relationship which has a local sheriff's unit once an even more tumultuous extend several years back when leads to stated concert-goers had been targeted for arrest. "It managed present individuals stop, however all of us couldn't proceed working to get insure, " your lover mentioned on the Missouri event. Tebeau, who resided around the seized park with his her conversation along with not one but two children, delivered that will St. Louis although existence primarily while travelling, doing four to five nights 7 days using a vacation each with all the Schwag as well as around a different class headed by Melvin Seals, your one-time Jerry Garcia collaborator. your dog admits that will inside hindsight, the group appoint identifiable together with low-grade dope wasn't the smartest alternative. "If we were visiting exercise around yet again,monster beats solo hd white i'd personally possibly pick a distinct piece brand. "...

BRUSSELS (AP) — Eurozone finance ministers opened the door to using the currency union's bailout fund to buy up distressed Greek bonds, thereby cutting the country's overall debt load as they scrambled to stop the region's debt crisis from spreading to larger economies like Italy and Spain. The ministers' statement Monday — which came after hours of discussions and was scant on details — followed one of the worst days in the markets for Italy and Spain, the third and fourth largest economies in the eurozone. The fear is that while Europe's euro750 billion bailout fund can support already bailed out Greece, Portugal and Ireland — only 6 percent of the eurozone economy — unemployment-ridden Spain and highly indebted Italy are too big to save. The 17 eurozone finance ministers said they "stand ready" to contain the risk of contagion, "including enhancing the flexibility and the scope" of the European Financial Stability Facility, the eurozone's portion of the overall bailout fund, also known as the EFSF. cheap monster beatsThey also said that they will consider giving already bailed out countries more time to repay their loans and cutting the interest rates they have to pay. While ministers did not explain what this wider "flexibility and scope" will mean in practice, the statement comes after the eurozone's biggest banks and investment funds called for EFSF-funded buybacks as part of a plan to get the private sector to contribute to a second bailout for Greece. Greek bonds are currently trading far below face value. If the EFSF bought up these bonds at current prices, or swapped them for EFSF-issued bonds of the same value, that could cut down Greece's overall debt, which is set to top 160 percent of economic output. Eurozone banks and investment funds have been locked into negotiations on how they can contribute to a new rescue package for Greece — on top of the euro110 billion the country was granted last May. The EU says Greece will need an extra euro115 billion to keep it afloat until mid-2014, although some of that money is expected to come from selling state assets. However, the talks with banks have proven difficult, because the eurozone has said that any private sector involvement would have to be voluntary and because rating agencies have warned that even market-friendly proposals will likely be seen as a partial default by Greece. A default rating could spread panic on financial markets and hurt Greek banks, the biggest holders of Greek bonds.dre headphones The buybacks have emerged as a potential bargaining chip the negotiations, because they would lower the weight of Greece's debts and relieve banks and other private investors of risky assets on their balance sheets. Faced with the prospect of a messy default by Greece in the near future, which could leave them with very little money, a buyback below face value may be seen as a better option. They could also prove a boon for hedge funds, which may have bought the bonds at even lower prices. In an article in German daily FAZ, Martin Blessing, the CEO of Germany's Commerzbank, proposed allowing bondholders to exchange existing bonds for new ones at a 30 percent discount, 30-year maturity and low 3. 5 percent interest rate. Commerzbank is a major holder of Greek government bonds. While the eurozone ministers opened the door for buybacks — which they had firmly excluded as recently as March — they appeared to move away from a previous promise to avoid a default rating for Greece at all cost. Monday's statement only said that the European Central Bank "confirmed its position...that a credit event or selective default should be avoided. " That's much weaker language than in previous statements, where the ECB's position had been backed by the finance ministers. It signals that finance ministers are considering harsher options for private sector involvement than the previously favored bond roll-overs. The ministers' statement was big on promises, but low on details, which Jean-Claude Juncker, the prime minister of Luxembourg who chairs the finance ministers meetings, promised would be filled in "shortly, and shortly means as soon as possible. "beats by ady gaga As so often over the past year and a half, the eurozone finds itself at a new peak in its debt crisis, with leaders in the most threatened countries urging quick action to clarify the plans for a second Greek package, which ministers have been putting off. "The transition from crisis to crisis, at such a weak stage of recovery, given the cacophony in the press and the insecurity of the public, is a choice that Greece can no longer bear, " Greek Prime Minister George Papandreou said in a letter to Juncker Monday. "Concerning Greece, it is necessary this time to reach an effective solution that will guarantee the attaining of three basic targets: Debt viability, market access and the providing of means to restart the growth of the Greek economy. " Spanish Prime Minister Jose Luis Rodriguez Zapatero meanwhile called for a "swift and precise clarification" of how a second bailout for Greece might work, to help ease the tension that has engulfed his country as well as Italy in recent days. Separately, Christine Lagarde, the new leader of the International Monetary Fund, said Monday in Washington that Italy's economic growth "has to improve" to help bring its deficit down to about 3 percent of its economy in 2012.cheap monster beats headphones The IMF, which contributed about a third of the cost of last year's bailout fund, is being represented in Brussels by John Lipsky, the IMF's top deputy. Lagarde, in an interview with a group of reporters, said Greece has reduced its debt by an amount equivalent to 5 percent of its economy, "a significant achievement. " But "we all know this is not sufficient, more needs to be done, " she added. Investors on Monday sold off European stocks while the yields, or interest rates, on the bonds of Spain and Italy reached euro-era highs. The yield on Italian 10-year bonds jumped to 5. 7 percent from 5. 3 percent at the beginning of trading, following sharp rises on Thursday and Friday. Yields on Spanish 10-year bonds rose to 6 percent from 5. 7 percent. Italy's FTSE MIB stock index closed off 4 percent, and the euro sagged by more than a percent to $1. 4044, for a time dipping below $1. 40. Italy came under market pressure after remarks last week by Premier Silvio Berlusconi criticizing his Finance Minister Giulio Tremonti. Berlusconi's sniping has cast doubt on the government's political will to carry through with Tremonti's proposals to find euro48 billion in new savings over three years and eliminate the country's budget deficit by 2014. monster beats michael jackson __ Daniel Woolls in Madrid and Nicholas Paphitis in Athens contributed to this story.

BRUSSELS (AP) — Eurozone finance ministers opened the door to using the currency union's bailout fund to buy up distressed Greek bonds, thereby cutting the country's overall debt load as they scrambled to stop the region's debt crisis from spreading to larger economies like Italy and Spain. The ministers' statement Monday — which came after hours of discussions and was scant on details — followed one of the worst days in the markets for Italy and Spain, the third and fourth largest economies in the eurozone. The fear is that while Europe's euro750 billion bailout fund can support already bailed out Greece, Portugal and Ireland — only 6 percent of the eurozone economy — unemployment-ridden Spain and highly indebted Italy are too big to save. The 17 eurozone finance ministers said they "stand ready" to contain the risk of contagion, "including enhancing the flexibility and the scope" of the European Financial Stability Facility, the eurozone's portion of the overall bailout fund, also known as the EFSF. beats headphones soloThey also said that they will consider giving already bailed out countries more time to repay their loans and cutting the interest rates they have to pay. While ministers did not explain what this wider "flexibility and scope" will mean in practice, the statement comes after the eurozone's biggest banks and investment funds called for EFSF-funded buybacks as part of a plan to get the private sector to contribute to a second bailout for Greece. Greek bonds are currently trading far below face value. If the EFSF bought up these bonds at current prices, or swapped them for EFSF-issued bonds of the same value, that could cut down Greece's overall debt, which is set to top 160 percent of economic output. Eurozone banks and investment funds have been locked into negotiations on how they can contribute to a new rescue package for Greece — on top of the euro110 billion the country was granted last May. The EU says Greece will need an extra euro115 billion to keep it afloat until mid-2014, although some of that money is expected to come from selling state assets. However, the talks with banks have proven difficult, because the eurozone has said that any private sector involvement would have to be voluntary and because rating agencies have warned that even market-friendly proposals will likely be seen as a partial default by Greece. A default rating could spread panic on financial markets and hurt Greek banks, the biggest holders of Greek bonds.monster beats kobe The buybacks have emerged as a potential bargaining chip the negotiations, because they would lower the weight of Greece's debts and relieve banks and other private investors of risky assets on their balance sheets. Faced with the prospect of a messy default by Greece in the near future, which could leave them with very little money, a buyback below face value may be seen as a better option. They could also prove a boon for hedge funds, which may have bought the bonds at even lower prices. In an article in German daily FAZ, Martin Blessing, the CEO of Germany's Commerzbank, proposed allowing bondholders to exchange existing bonds for new ones at a 30 percent discount, 30-year maturity and low 3. 5 percent interest rate. Commerzbank is a major holder of Greek government bonds. While the eurozone ministers opened the door for buybacks — which they had firmly excluded as recently as March — they appeared to move away from a previous promise to avoid a default rating for Greece at all cost. Monday's statement only said that the European Central Bank "confirmed its position...that a credit event or selective default should be avoided. " That's much weaker language than in previous statements, where the ECB's position had been backed by the finance ministers. It signals that finance ministers are considering harsher options for private sector involvement than the previously favored bond roll-overs.beats turbine pro The ministers' statement was big on promises, but low on details, which Jean-Claude Juncker, the prime minister of Luxembourg who chairs the finance ministers meetings, promised would be filled in "shortly, and shortly means as soon as possible. " As so often over the past year and a half, the eurozone finds itself at a new peak in its debt crisis, with leaders in the most threatened countries urging quick action to clarify the plans for a second Greek package, which ministers have been putting off. "The transition from crisis to crisis, at such a weak stage of recovery, given the cacophony in the press and the insecurity of the public, is a choice that Greece can no longer bear, " Greek Prime Minister George Papandreou said in a letter to Juncker Monday. "Concerning Greece, it is necessary this time to reach an effective solution that will guarantee the attaining of three basic targets: Debt viability, market access and the providing of means to restart the growth of the Greek economy. " Spanish Prime Minister Jose Luis Rodriguez Zapatero meanwhile called for a "swift and precise clarification" of how a second bailout for Greece might work, to help ease the tension that has engulfed his country as well as Italy in recent days.beats pro white headphones Separately, Christine Lagarde, the new leader of the International Monetary Fund, said Monday in Washington that Italy's economic growth "has to improve" to help bring its deficit down to about 3 percent of its economy in 2012. The IMF, which contributed about a third of the cost of last year's bailout fund, is being represented in Brussels by John Lipsky, the IMF's top deputy. Lagarde, in an interview with a group of reporters, said Greece has reduced its debt by an amount equivalent to 5 percent of its economy, "a significant achievement. " But "we all know this is not sufficient, more needs to be done, " she added. Investors on Monday sold off European stocks while the yields, or interest rates, on the bonds of Spain and Italy reached euro-era highs. The yield on Italian 10-year bonds jumped to 5. 7 percent from 5. 3 percent at the beginning of trading, following sharp rises on Thursday and Friday. Yields on Spanish 10-year bonds rose to 6 percent from 5. 7 percent.dre headphones Italy's FTSE MIB stock index closed off 4 percent, and the euro sagged by more than a percent to $1. 4044, for a time dipping below $1. 40. Italy came under market pressure after remarks last week by Premier Silvio Berlusconi criticizing his Finance Minister Giulio Tremonti. Berlusconi's sniping has cast doubt on the government's political will to carry through with Tremonti's proposals to find euro48 billion in new savings over three years and eliminate the country's budget deficit by 2014. __ Daniel Woolls in Madrid and Nicholas Paphitis in Athens contributed to this story.

WASHINGTON (AP) — The United States and its partners in the international diplomatic "quartet" on the Middle East failed on Monday to reach agreement on how to restart Israeli-Palestinian peace talks, dealing a blow to urgent efforts to avert a looming confrontation at the United Nations over recognizing Palestine as an independent nation. A senior U. S. official said a Monday night meeting between Secretary of State Hillary Rodham Clinton, U. N. Secretary-General Ban Ki-moon, E. U. foreign policy chief Catherine Ashton and Russian Foreign Minister Sergey Lavrov was unable to produce a unified statement on how to proceed. Such a statement had been a modest goal of the meeting.monster beats The official said that significant gaps are still impeding progress among both the mediators and the parties themselves and that "much more work" needs to be done before the quartet can issue a call to re-launch negotiations that stalled last September. The official spoke on condition of anonymity to discuss the private working dinner among the quartet principals at the State Department. The official said talks would continue but acknowledged that the mediators could not come to consensus on how to address the gaps. The official refused to elaborate. The quartet usually issues statements following meetings of its top officials. The fact that none was forthcoming on Monday underscored the slim chances for bringing the Israelis and Palestinians back to talks anytime soon. The Palestinians plan to bring their bid for independence before the U. N. General Assembly in September. That move is likely to make the decades-old deadlock even more intractable. Earlier Monday, Clinton and Ashton told reporters that the U. S. and European Union remained committed to getting the two sides back to the table. They said negotiations are the only way to resolve the conflict and Clinton noted that negotiations were what led to the creation of the world's newest state, South Sudan, last weekend after decades of civil war.monster beats solo hd black limited "Sudan and South Sudan negotiated a peace agreement that led to independence, " she told reporters at a joint news conference with Ashton. "That is what we're asking the Palestinians and the Israelis to do. " "What we strongly advocate is a return to negotiations, because a resolution, a statement, an assertion is not an agreement, " she said, referring to the Palestinian move at the U. N. "And the path to two states living side by side in peace and security lies through direct negotiation. And the sooner the parties get back to that, the sooner there can be the result that many of us have worked for a long time. " But neither Israeli officials nor the Palestinians have shown any sign they are ready to resume direct talks after nine months of inaction and the Palestinian push for U. N. recognition has further complicated things. The new U. S. special Mideast peace envoy, David Hale, and White House adviser Dennis Ross have been unable to persuade the Palestinians to back off. Israel and the U. S. support an independent Palestine but oppose attempts to establish one without negotiations.monster beats turbine The measure probably will pass, providing the Palestinians with increased diplomatic power, even though independence still will need U. N. Security Council approval, something the U. S. would surely veto. The U. S. has been trying furiously without success to get the Israelis and Palestinians to commit to new discussions based on parameters President Barack Obama outlined in a May speech: two states based on the territorial boundaries that existed before the 1967 Mideast war, with some territory swaps to account for population shifts and security concerns. Until last week, the United States wasn't even sure it made sense to meet with the other mediators, believing there was nothing new to discuss. Eventually the administration relented to European calls to get together, but little of substance was expected. Speaking before the quartet meeting on the Voice of Palestine radio station, chief Palestinian negotiator Saeb Erekat said the Palestinians hoped for a strong statement from the group.cheap monster beats headphones "The quartet needs not only to state that the negotiations should be based on the 1967 borders but Israel also needs to endorse that in order for us to resume the peace talks, " he said. He said that given Israeli Prime Minister Benjamin Netanyahu's opposition to these terms, "we demand the quartet hold Israel responsible for the collapse of the peace process. " The Israelis, meanwhile, are still fuming over Obama's May 19 speech. By endorsing language on territory that had long been a Palestinian goal as a basis for the talks, Obama upset Israel, which has maintained that all boundaries should be subject to negotiation. Netanyahu is looking for a concession from the Palestinians in return. Diplomats say he hopes to secure an explicit statement that the Palestinians will recognize Israel as a Jewish state before entering talks. Further complicating matters is a unity deal between Palestinian President Mahmoud Abbas' Fatah faction, which controls the West Bank, and the militant Hamas movement in power in Gaza. Netanyahu has rejected any talks with a Palestinian government including Hamas, which Israel and the U. S. brand a terrorist organization. Abbas has shown an apparent willingness to delay the formation of a unity government with Hamas, but once it happens it will likely jeopardize the process.monster beats solo hd white ___ Associated Press writer Bradley Klapper contributed to this report.

BRUSSELS (AP) — Eurozone finance ministers opened the door to using the currency union's bailout fund to buy up distressed Greek bonds, thereby cutting the country's overall debt load as they scrambled to stop the region's debt crisis from spreading to larger economies like Italy and Spain. The ministers' statement Monday — which came after hours of discussions and was scant on details — followed one of the worst days in the markets for Italy and Spain, the third and fourth largest economies in the eurozone. The fear is that while Europe's euro750 billion bailout fund can support already bailed out Greece, Portugal and Ireland — only 6 percent of the eurozone economy — unemployment-ridden Spain and highly indebted Italy are too big to save. The 17 eurozone finance ministers said they "stand ready" to contain the risk of contagion, "including enhancing the flexibility and the scope" of the European Financial Stability Facility, the eurozone's portion of the overall bailout fund, also known as the EFSF. They also said that they will consider giving already bailed out countries more time to repay their loans and cutting the interest rates they have to pay.monster beats turbine While ministers did not explain what this wider "flexibility and scope" will mean in practice, the statement comes after the eurozone's biggest banks and investment funds called for EFSF-funded buybacks as part of a plan to get the private sector to contribute to a second bailout for Greece. Greek bonds are currently trading far below face value. If the EFSF bought up these bonds at current prices, or swapped them for EFSF-issued bonds of the same value, that could cut down Greece's overall debt, which is set to top 160 percent of economic output. Eurozone banks and investment funds have been locked into negotiations on how they can contribute to a new rescue package for Greece — on top of the euro110 billion the country was granted last May. The EU says Greece will need an extra euro115 billion to keep it afloat until mid-2014, although some of that money is expected to come from selling state assets. However, the talks with banks have proven difficult, because the eurozone has said that any private sector involvement would have to be voluntary and because rating agencies have warned that even market-friendly proposals will likely be seen as a partial default by Greece. A default rating could spread panic on financial markets and hurt Greek banks, the biggest holders of Greek bonds.beats by dre The buybacks have emerged as a potential bargaining chip the negotiations, because they would lower the weight of Greece's debts and relieve banks and other private investors of risky assets on their balance sheets. Faced with the prospect of a messy default by Greece in the near future, which could leave them with very little money, a buyback below face value may be seen as a better option. They could also prove a boon for hedge funds, which may have bought the bonds at even lower prices. In an article in German daily FAZ, Martin Blessing, the CEO of Germany's Commerzbank, proposed allowing bondholders to exchange existing bonds for new ones at a 30 percent discount, 30-year maturity and low 3. 5 percent interest rate. Commerzbank is a major holder of Greek government bonds. While the eurozone ministers opened the door for buybacks — which they had firmly excluded as recently as March — they appeared to move away from a previous promise to avoid a default rating for Greece at all cost. Monday's statement only said that the European Central Bank "confirmed its position...that a credit event or selective default should be avoided. " That's much weaker language than in previous statements, where the ECB's position had been backed by the finance ministers. It signals that finance ministers are considering harsher options for private sector involvement than the previously favored bond roll-overs.cheap monster beats The ministers' statement was big on promises, but low on details, which Jean-Claude Juncker, the prime minister of Luxembourg who chairs the finance ministers meetings, promised would be filled in "shortly, and shortly means as soon as possible. " As so often over the past year and a half, the eurozone finds itself at a new peak in its debt crisis, with leaders in the most threatened countries urging quick action to clarify the plans for a second Greek package, which ministers have been putting off. "The transition from crisis to crisis, at such a weak stage of recovery, given the cacophony in the press and the insecurity of the public, is a choice that Greece can no longer bear, " Greek Prime Minister George Papandreou said in a letter to Juncker Monday. "Concerning Greece, it is necessary this time to reach an effective solution that will guarantee the attaining of three basic targets: Debt viability, market access and the providing of means to restart the growth of the Greek economy. " Spanish Prime Minister Jose Luis Rodriguez Zapatero meanwhile called for a "swift and precise clarification" of how a second bailout for Greece might work, to help ease the tension that has engulfed his country as well as Italy in recent days.beats by dre Separately, Christine Lagarde, the new leader of the International Monetary Fund, said Monday in Washington that Italy's economic growth "has to improve" to help bring its deficit down to about 3 percent of its economy in 2012. The IMF, which contributed about a third of the cost of last year's bailout fund, is being represented in Brussels by John Lipsky, the IMF's top deputy. Lagarde, in an interview with a group of reporters, said Greece has reduced its debt by an amount equivalent to 5 percent of its economy, "a significant achievement. " But "we all know this is not sufficient, more needs to be done, " she added. Investors on Monday sold off European stocks while the yields, or interest rates, on the bonds of Spain and Italy reached euro-era highs. The yield on Italian 10-year bonds jumped to 5. 7 percent from 5. 3 percent at the beginning of trading, following sharp rises on Thursday and Friday. Yields on Spanish 10-year bonds rose to 6 percent from 5. 7 percent. Italy's FTSE MIB stock index closed off 4 percent, and the euro sagged by more than a percent to $1. 4044, for a time dipping below $1. 40. Italy came under market pressure after remarks last week by Premier Silvio Berlusconi criticizing his Finance Minister Giulio Tremonti. Berlusconi's sniping has cast doubt on the government's political will to carry through with Tremonti's proposals to find euro48 billion in new savings over three years and eliminate the country's budget deficit by 2014.cheap monster beats headphones __ Daniel Woolls in Madrid and Nicholas Paphitis in Athens contributed to this story.

BRUSSELS (AP) — Eurozone finance ministers opened the door to using the currency union's bailout fund to buy up distressed Greek bonds, thereby cutting the country's overall debt load as they scrambled to stop the region's debt crisis from spreading to larger economies like Italy and Spain. The ministers' statement Monday — which came after hours of discussions and was scant on details — followed one of the worst days in the markets for Italy and Spain, the third and fourth largest economies in the eurozone. The fear is that while Europe's euro750 billion bailout fund can support already bailed out Greece, Portugal and Ireland — only 6 percent of the eurozone economy — unemployment-ridden Spain and highly indebted Italy are too big to save.monster beats The 17 eurozone finance ministers said they "stand ready" to contain the risk of contagion, "including enhancing the flexibility and the scope" of the European Financial Stability Facility, the eurozone's portion of the overall bailout fund, also known as the EFSF. They also said that they will consider giving already bailed out countries more time to repay their loans and cutting the interest rates they have to pay. While ministers did not explain what this wider "flexibility and scope" will mean in practice, the statement comes after the eurozone's biggest banks and investment funds called for EFSF-funded buybacks as part of a plan to get the private sector to contribute to a second bailout for Greece. Greek bonds are currently trading far below face value. If the EFSF bought up these bonds at current prices, or swapped them for EFSF-issued bonds of the same value, that could cut down Greece's overall debt, which is set to top 160 percent of economic output. Eurozone banks and investment funds have been locked into negotiations on how they can contribute to a new rescue package for Greece — on top of the euro110 billion the country was granted last May. The EU says Greece will need an extra euro115 billion to keep it afloat until mid-2014, although some of that money is expected to come from selling state assets. However, the talks with banks have proven difficult, because the eurozone has said that any private sector involvement would have to be voluntary and because rating agencies have warned that even market-friendly proposals will likely be seen as a partial default by Greece. A default rating could spread panic on financial markets and hurt Greek banks, the biggest holders of Greek bonds.beats headphones solo The buybacks have emerged as a potential bargaining chip the negotiations, because they would lower the weight of Greece's debts and relieve banks and other private investors of risky assets on their balance sheets. Faced with the prospect of a messy default by Greece in the near future, which could leave them with very little money, a buyback below face value may be seen as a better option. They could also prove a boon for hedge funds, which may have bought the bonds at even lower prices. In an article in German daily FAZ, Martin Blessing, the CEO of Germany's Commerzbank, proposed allowing bondholders to exchange existing bonds for new ones at a 30 percent discount, 30-year maturity and low 3. 5 percent interest rate. Commerzbank is a major holder of Greek government bonds. While the eurozone ministers opened the door for buybacks — which they had firmly excluded as recently as March — they appeared to move away from a previous promise to avoid a default rating for Greece at all cost. Monday's statement only said that the European Central Bank "confirmed its position...that a credit event or selective default should be avoided. " That's much weaker language than in previous statements, where the ECB's position had been backed by the finance ministers. It signals that finance ministers are considering harsher options for private sector involvement than the previously favored bond roll-overs. The ministers' statement was big on promises, but low on details, which Jean-Claude Juncker, the prime minister of Luxembourg who chairs the finance ministers meetings, promised would be filled in "shortly, and shortly means as soon as possible. "beats kobe As so often over the past year and a half, the eurozone finds itself at a new peak in its debt crisis, with leaders in the most threatened countries urging quick action to clarify the plans for a second Greek package, which ministers have been putting off. "The transition from crisis to crisis, at such a weak stage of recovery, given the cacophony in the press and the insecurity of the public, is a choice that Greece can no longer bear, " Greek Prime Minister George Papandreou said in a letter to Juncker Monday. "Concerning Greece, it is necessary this time to reach an effective solution that will guarantee the attaining of three basic targets: Debt viability, market access and the providing of means to restart the growth of the Greek economy. " Spanish Prime Minister Jose Luis Rodriguez Zapatero meanwhile called for a "swift and precise clarification" of how a second bailout for Greece might work, to help ease the tension that has engulfed his country as well as Italy in recent days. Separately, Christine Lagarde, the new leader of the International Monetary Fund, said Monday in Washington that Italy's economic growth "has to improve" to help bring its deficit down to about 3 percent of its economy in 2012. The IMF, which contributed about a third of the cost of last year's bailout fund, is being represented in Brussels by John Lipsky, the IMF's top deputy. Lagarde, in an interview with a group of reporters, said Greece has reduced its debt by an amount equivalent to 5 percent of its economy, "a significant achievement. " But "we all know this is not sufficient, more needs to be done, " she added.monster beats kobe bryant Investors on Monday sold off European stocks while the yields, or interest rates, on the bonds of Spain and Italy reached euro-era highs. The yield on Italian 10-year bonds jumped to 5. 7 percent from 5. 3 percent at the beginning of trading, following sharp rises on Thursday and Friday. Yields on Spanish 10-year bonds rose to 6 percent from 5. 7 percent. Italy's FTSE MIB stock index closed off 4 percent, and the euro sagged by more than a percent to $1. 4044, for a time dipping below $1. 40. Italy came under market pressure after remarks last week by Premier Silvio Berlusconi criticizing his Finance Minister Giulio Tremonti. Berlusconi's sniping has cast doubt on the government's political will to carry through with Tremonti's proposals to find euro48 billion in new savings over three years and eliminate the country's budget deficit by 2014. __ Daniel Woolls in Madrid and Nicholas Paphitis in Athens contributed to this story.cheap monster beats headphones