Wednesday, August 17, 2011

Nicky and Angie try herding cats

The company may have been divine, the state meals fine; but it seems that the results of the meeting of the two key Euro zone players, are leaving a little bit to be desired.

With economic observers expecting, or perhaps blindly hoping for much, much more and coming away feeling just a little disappointed over it all.

The recently completed summit of two, featuring Germany's Angela Merkel and France's Nicholas Sarkozy has reportedly offered up little in the way of instruction as to how Europe plans to remove the burdens of economic trouble.

Throughout the Eurozone, as well as into a very interested England the conclusions of Ms. Merkel and Mr. Sarkozy have not quite measured up to what many believe are required.

As Ambrose Evans Pritchard outlines in his work for the The Telegraph,  the tete a tete between the two provided nothing more than as he calls it a "vacuous restatement of clauses that already exist", not exactly the scene shifting declarations that many had hoped for.





Indeed the impression from Europe seems to be that, not much was accomplished at the summit and the European debt worries will continue on into the late summer, perhaps in the end resulting in the shedding of troubled nations from the Euro co-operative, if not bringing down the whole group regardless.

The tremors of concern that are rattling around Europe these days, resonate as well on this side of the Atlantic, where North American stock markets taking measure of the world's economic climate of late have provided for some serious volatility over the last week or so, indicating that North America is vulnerable to events far beyond its control.

The reviews of the Euro duet can be found below, the consensus it seems being that, that the two leading European powers may have much work ahead of them to stabilize their continent wide collective.


The Telegraph-- Empty euro talk
The Telegraph-- Even as Angela Merkel and Nicolas Sarozy talk, Europe's economy slides ...
The Telegraph-- European reaction to Merkel-Sarkozy summit
The Guardian-- Merkel and Sarkozy push for greater European co-operation
The Guaridan-- Sarkozy and Merkel call for 'true economic government' to save eurozone
Christian Science Monitor-- Euro debt crisis 101: What can Merkel, Sarkozy plan accomplish
Financial Times-- Merkel aids in Sarkozy's domestic battle
Financial Times-- Markets give eurozone plan cool reception
Business Week-- Merkel, Sarkozy propose eurozone government
CTV-- Merkel, Sarkozy disappoint investors over euro bonds
Wall Street Journal-- Merkel and Sarkozy recycle Old Ideas
Monsters and Critics-- Merkel-Sarkozy "step by step" response fails to impress
PBS Newshour-- Merkel, Sarkozy Call for Single Eurozone Governance
TIME-- The Merkel Sarkozy Summit: A Minimalist Affair
CBC-- Merkel, Sarkozy want tighter EU budget controls

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