Discussions intensified and meetings are multiplying as we approach the summit of Heads of State and Government of the euro zone on Thursday in Brussels. The challenge: to present a lasting solution to the Greek crisis by adopting a second aid plan. Despite the hesitation at the head of Europe, the markets want to believe a lasting solution. Paris wins Wednesday mid-day 1.45%.
Sign, however, difficult to finalize a common position, the meeting of finance officials of the euro zone has been extended from Wednesday night to Thursday morning. In turn, the summit will begin with an hour late, at noon instead of 11 hours.
"No great advances"
The postponement will allow a little more time to French President Nicolas Sarkozy and German Chancellor Angela Merkel to resolve disputes between the two countries: they meet on Wednesday afternoon in Berlin.The two countries have different objectives. Angela Merkel has applied to shower expectations. There will be "no great progress," she said Tuesday. Before insuring, Wednesday midday, the German government will show good will. And she was "very confident" of finding a common position with France to achieve "good results" on Thursday.
Recognizing that markets will forgive a bad meeting for nothing, Paris wants instead a "durable solution" is found, insisted Wednesday the government spokesman Valerie Pécresse, after the Council of Ministers. It "passes through the Franco-German couple" she added, pointing out that the main resistance to the alternative of issuing bonds were European, according to the French Government, "a German resistance."
If Paris and Berlin hold the key to an agreement between European leaders, they always seem to oppose it on ways to involve banks in terms of aid to Greece. If the amount of effort required to banks of 30 billion euros, a consensus, the methodology to be divided. Paris wants, as the European Central Bank, avoid at all costs that Greece is found in default. Germany intends to take less care. She suggested including the development does not place a tax credit, which the industry sees an evil eye.
"Agreement on the fundamentals"
The French Minister of Economy, Baroin, wanted reassurance."There is a broad convergence of views, there is an agreement on the fundamentals, there is a desire to make more sustainable debt Greek and there is still some discussion on the part of private, but it's more a discussion of degrees and not a discussion of values, "he said.
While the Franco-German leaders will finalize their position, the Greek Prime Minister George Papandreou will be in Brussels to meet at 17 hours, the president of the European Commission Jose Manuel Barroso. The aim of the summit is crucial on Thursday, insisted on Wednesday the spokesman of the Greek government: "We have tomorrow (Thursday) a peak in determining the future of the country and Europe, Prime Minister (George Papandreou ) engages in a battle to ensure that Greece will stand on two feet. "
ALSO READ:
"Debt: the IMF impatient, Merkel sets conditions
"For banks, a plan with three options
"Euro area: towards a consensus in the snatch
Recent Comments