Tuesday, October 25, 2011

European Finance Ministers Call Off Pre-Summit Meeting - NYTimes.com


“It’s unfortunate handling by the Polish presidency, and bad news because the markets have tanked,” the diplomat said on condition of anonymity, given the sensitivity of the subject. But the diplomat said the summit meeting of leaders should not be affected.

Chancellor Angela Merkel of Germany, President Nicolas Sarkozy of France and other leaders had returned to their respective capitals following the meeting in Brussels on Sunday, while high-level aides remained to work on issues like debt relief for Greece and measures to strengthen European banks. 

One of the most concrete results of the weekend talks was a plan to compel banks to bolster their emergency reserves, but divisions remain over how to increase the firepower of the euro area’s bailout fund. 

European Finance Ministers Call Off Pre-Summit Meeting - NYTimes.com


NOTE: REMEMBER THE POST a few days ago??? The one on how the FEDS and Bank of America have conspired and put into place a way for us taxpayers to bail out European bank fails… Its coming folks, hang onto your hats… Maybe the Occupy movement should reach out to the TEA PARTY movement and all refuse to pay any tax that would be earmarked towards bailout of foreign banks!

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