France and Germany (and europe): 2(+25)

This weekend, Mrs Merkel and Mr Sarkozy met to discuss the euro/debt/bank crisis and find (again) solutions.

Following their meeting, they announced a plan to refinance banks and organize a partial default haircut on Greek debt. #

Although one can be happy that these two leaders are taking action to calm the crisis down (or at least try to), the two head action is a source of problem, let’s remind ourselves that it is other member states that are not so much part of the decisions process that are slowing down and/or threatening the European response to the debt crisis 1,2,3,4.

A comprehensive, all-involved, strategy and response is not easier to get, but once decided, simpler to implement.

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