10 October 2011

They must think we're idiots

So it's all sorted, is it?  City AM records:

A highly anticipated meeting yesterday resulted in a bland statement by German chancellor Angela Merkel that politicians “are determined to do the necessary to secure the recapitalisation”, which the IMF has said will cost around €200bn (£172bn). 
Merkel and French president Nicolas Sarkozy claimed they are in “total agreement” but said they cannot answer questions about any of the crucial technical details of any deal until November’s G20 summit. 
Both Merkel and Sarkozy denied that there is a despute over how the region’s bailout fund should be used in the bank rescue. “Germany and France want the same criteria to be applied, and criteria that are accepted by all sides,” said Merkel.
How long do they think that will hold?

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