Monday, October 10, 2011

Bank Talks Continue

Meanwhile, Dexia has been nationalized by France and Belgium, and Sarkozy and Merkel have agreed on the need to support other threatened banks but are still dickering over how to do so.

1 comment:

FrédéricLN said...

Well, Ms Merkel expects the Frenche governement to force French banks (those full of junk sovereign debt) to be managed properly and publish decent balance-sheets (instead of pushing them to bankruptcy, as Ms Lagarde is alleged to have done with Dexia) ; but she knows that means either selling part of them to, say, the Qatari ; or "la nationalisation", at French public debt expense, and our famous AAA would vanish.

And Mr Sarkozy requires Ms Merkel to save our banks with some dark-pool-special-European-money called EFSF coming, in practice, from German taxpayers pockets.

In French: il peut toujours courir.