France and Germany (and europe): 2(+25)Posted: October 10, 2011
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.