German Chancellor Merkel and French President Sarkozy discussed the option of partially nationalizing European banks ahead of a meeting of euro zone leaders. Berlin is also reportedly set to present its own rescue deal. The pair met at the home village and final resting place of General Charles de Gaulle on Saturday, Oct. 11, one day before a Paris summit on the global credit crisis of the leaders of all 15 members of the euro zone. France and Germany have "exactly the same view" on the financial crisis, Sarkozy told reporters. "We have prepared a certain number of decisions that we will submit to our partners in the presence of the president of the European Commission and the governor of the (European) central bank," he said. "All decisions, all preparations and all analyses, we're making together."
The pair met at the home village and final resting place of General Charles de Gaulle on Saturday, Oct. 11, one day before a Paris summit on the global credit crisis of the leaders of all 15 members of the euro zone.
France and Germany have "exactly the same view" on the financial crisis, Sarkozy told reporters.
"We have prepared a certain number of decisions that we will submit to our partners in the presence of the president of the European Commission and the governor of the (European) central bank," he said. "All decisions, all preparations and all analyses, we're making together."
Brown offers Europe a lesson in leadership If eurozone leaders were truly bold, they could use this crisis as an opportunity to strengthen governance procedures. It would be very desirable. The UK bank recapitalisation scheme was the first useful contribution politics has made since the crisis broke out 14 months ago. Gordon Brown, the British prime minister, gave the Europeans a lesson in political leadership when other leaders were running for cover and reverting to spin doctoring.
If eurozone leaders were truly bold, they could use this crisis as an opportunity to strengthen governance procedures. It would be very desirable. The UK bank recapitalisation scheme was the first useful contribution politics has made since the crisis broke out 14 months ago. Gordon Brown, the British prime minister, gave the Europeans a lesson in political leadership when other leaders were running for cover and reverting to spin doctoring.
The spin seems to be hardening that (i) Europeans have a worse crisis than the Anglos, (ii) they are hopeless are coordinating their policies, thereby demonstrating yet again what a failed project the EU is, and (iii) the solutions are coming from the English-speaking world.
Sigh. In the long run, we're all dead. John Maynard Keynes
