Euro zone mixed signalsPosted: October 10, 2011
Since the beginning of the euro/greek/debt/… crisis, the eurozone leaders have been criticized for not having a clear narrative. The latest summit reschedule#,*, to allow time to “to finalise comprehensive strategy” is one more of the same.
In some way, it is a good thing that leaders do not convene without a good plan everybody can agree on when the time comes. If there is something we do not need at the moment, it is a summit that does not lead to any results.
On the other hand, it is not a good idea, because this one week postpone might be interpreted as a signal that there is no good plan at the moment and more talks and hard negotiations are needed to get a position people will agree on.
- Getting a comprehensive agreement everybody agrees on: good.
- Needing one more week to get to that: not good.