Letter to EU: Open markets key for growth

LONDON -- A dozen European Union leaders called Monday for an open-markets strategy to stimulate growth and jolt the region out of its economic doldrums.

The 12 leaders sent a letter to EU leaders Herman van Rompuy and José Manuel Barroso as eurozone finance ministers met to discuss a $170-billion bailout for Greece.

Their intervention comes ahead of a summit of European leaders in Brussels on March 1, and amid growing concern in Europe that austerity aimed at cutting ballooning deficits may also be choking growth.

"We meet in Brussels at a perilous moment for economies across Europe," the leaders said. "Growth has stalled. Unemployment is rising. Citizens and businesses are facing their toughest conditions for years."

The letter urges European nations to deregulate their service, research and energy sectors, forge trade ties with growing markets including China, Russia and South America -- and even contemplate a free-trade agreement with the United States.

"We must act with urgency . . . to remove the restrictions that hinder access and competition," the leaders said. "We must reject the temptation to seek self-defeating protectionism in our trade relations."

The letter is signed by the leaders of Britain, Ireland, the Netherlands, Italy, Spain, Estonia, Latvia, Finland, Sweden, Poland, the Czech Republic and Slovakia. -- AP