Thursday, March 25, 2010

Sarkozy and Merkel Save the Euro, For Now

The tough talk is over for the moment: European governments will kick in 2/3 of what the Greeks need to cover their losses, the IMF the other third. Merkel insisted on steps toward tightening fiscal discipline in Europe, with a report to be submitted by the end of the year about how this might be done. À suivre.

Jean Quatremer's comment: un accord en trompe-l'oeil

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