Welcome to the new version of European Tribune. It's just a new layout, so everything should work as before - please report bugs here.
Display:
While Merkel may have campaigned in front of a local audience, what she said was apparently instantly turned into ECB policy, as Trichet's likely successor sang to the same tunes:

FT.com / Brussels - Row within Europe over Greece

The ECB fears a soft restructuring would be seen as a precursor to a "hard" restructuring and spook markets across the eurozone. ECB officials instead want Greece to accelerate its privatisation programme. Mr Bini Smaghi said Athens needed to "convince its citizens to pay taxes" and "retire at 65 as everyone else does in the western world".

There is, however, this, too:

Separately, Jürgen Stark, another ECB executive board member, criticised "vested interests" in the UK and US who were hostile to Greece's reform efforts - an apparent attack on investors who have bet on a Greek default. In a further sign of European policy divisions, it emerged on Wednesday that the ECB and some eurozone countries are at odds with Germany's determination to involve private creditors in any future debt restructuring, for fear of scaring investors.

What is the last bit about?

*Lunatic*, n.
One whose delusions are out of fashion.

by DoDo on Thu May 19th, 2011 at 10:27:45 AM EST

Others have rated this comment as follows:

JakeS 4

Display:

Top Diaries

Civic Self Defense Resources

by gmoke - Sep 19
1 comment

2034

by Frank Schnittger - Sep 10
5 comments

Recent Diaries

Civic Self Defense Resources

by gmoke - Sep 19
1 comment

Faux Accompli

by Cat - Sep 14
11 comments

2034

by Frank Schnittger - Sep 10
5 comments

The Focus Group

by THE Twank - Aug 31
10 comments

Labour grows up?

by Frank Schnittger - Aug 27
57 comments

Exhibit 1

by Cat - Aug 22
22 comments

EU Position Papers

by Cat - Aug 22
24 comments

PACER

by Cat - Aug 18
5 comments

More Diaries...

Occasional Series