Sky News's business news editor Lucie McInerney tweets that her office has developed a new nickname for the Merkel, Sarkozy, Monti trio: And so we have a new European nickname after the Monti, Sarkozy, Merkel presser in Strasbourg today: #Monkozel is born! ... Merkel stressed that her position on "stability bonds" hasn't been altered by the meeting. She's not a fan. What she wants to see are EU treaty changes and punishments for countries that step out of line: The countries who don't keep to the stability pact have to be punished - those who contravene it need to be penalized. we need to make sure this doesn't happen again.... Sarkozy reminds the conference that Fitch currently rates France's AAA rating as "stable", before having a dig at Merkel by suggesting this information must not have made it across the Rhine. Nevertheless, he admits that things are far from rosy. Of course we're going into a crisis, it's a crisis of sovereign debts. If it gets worse it will pose a problem for all of us, not just France. That's why we're working towards a solution. The current situation is not satisfactory: we're working on that. I understand that our German friends have not understood what the rating agency Fitch has said. What they said was the triple A rating of France is stable - maybe that translation has not crossed the Rhine river. We've got a choice between being obstinate, regressing because we're not listening to others. Germany has a history, traditions and culture amd France has different ones - we're trying to come to the same point of view to try and recover the trust Europe needs . ... Angela Merkel about the EU treaty changes she's seeking: The ECB is independent, the modification of the treaty does not conern the ECB, which is dealing with monetary policy and financial stability. We are worried about a fiscal policy. It's a very different chapter. It has nothing to do with the European bank. Sarkozy says that France, Germany and Italy will do all they can to ensure stability in the eurozone. Sarkozy says that he and Merkel will meet again with Mario Monti soon, in Rome, and claimed that during today's meeting all three of them underlined their faith in the ECB.
Access Investments-Building Awareness - European Union-ROMANIA
Thursday, November 24, 2011
Sky News's business news editor Lucie McInerney tweets that her office has developed a new nickname for the Merkel, Sarkozy, Monti trio: And so we have a new European nickname after the Monti, Sarkozy, Merkel presser in Strasbourg today: #Monkozel is born! ... Merkel stressed that her position on "stability bonds" hasn't been altered by the meeting. She's not a fan. What she wants to see are EU treaty changes and punishments for countries that step out of line: The countries who don't keep to the stability pact have to be punished - those who contravene it need to be penalized. we need to make sure this doesn't happen again.... Sarkozy reminds the conference that Fitch currently rates France's AAA rating as "stable", before having a dig at Merkel by suggesting this information must not have made it across the Rhine. Nevertheless, he admits that things are far from rosy. Of course we're going into a crisis, it's a crisis of sovereign debts. If it gets worse it will pose a problem for all of us, not just France. That's why we're working towards a solution. The current situation is not satisfactory: we're working on that. I understand that our German friends have not understood what the rating agency Fitch has said. What they said was the triple A rating of France is stable - maybe that translation has not crossed the Rhine river. We've got a choice between being obstinate, regressing because we're not listening to others. Germany has a history, traditions and culture amd France has different ones - we're trying to come to the same point of view to try and recover the trust Europe needs . ... Angela Merkel about the EU treaty changes she's seeking: The ECB is independent, the modification of the treaty does not conern the ECB, which is dealing with monetary policy and financial stability. We are worried about a fiscal policy. It's a very different chapter. It has nothing to do with the European bank. Sarkozy says that France, Germany and Italy will do all they can to ensure stability in the eurozone. Sarkozy says that he and Merkel will meet again with Mario Monti soon, in Rome, and claimed that during today's meeting all three of them underlined their faith in the ECB.
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2 comments:
The EU is undemocratic, always was, and the Euro´s design fatally flawed from the outset. Maybe we will be rid of them soon?
Unfortunately, French entitlement syndrome will not go away. We will need to watch them like hawks.
Tomorrow we celebrate the encirclement of Stalingrad by the Red Army. Maybe we will get a present from the markets, now that Thanksgiving is over. A European thanksgiving?
Discussions with UK banks over the contingency plans have already taken place.
"We have been talking to them already and we will be talking to them again and asking questions," Mr Bailey noted. "There is no road map out there that says this is how it happens."
The prospect of a Greek exit from the single currency has already been mooted, after George Papandreou, the country's former prime minister, proposed a referendum on the terms of a European Union financial aid package.
"The eurozone was designed without an exit mechanism and so working out how this may happen is difficult," Mr Bailey said.
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