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Germany dampens hopes as France warns of euro ‘explosion’
Posted By admin On December 8, 2011 @ 4:09 am In Money Watch | Comments Disabled
December 8, 2011
Economic powerhouse Germany played down hopes Wednesday that a crucial debt summit will save the euro as French President Nicolas Sarkozy warned the risk of a eurozone “explosion” was very real.
Piling the pressure on EU leaders due to meet in Brussels from Thursday, Standard and Poor’s put a number of large European banks on review and placed the European Union on watch for a downgrade of its AAA credit rating.
German officials said reaching a deal would be “difficult” as US Treasury Secretary Timothy Geithner pressed Europe for decisive action to tackle the crisis and US President Barack Obama spoke to German Chancellor Angela Merkel.
“Europe is not out of the crisis. The risk of an explosion abounds as long as the decisions taken with Angela Merkel are not implemented,” Sarkozy told lawmakers from his ruling UMP party, according to a participant in the meeting.
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URL to article: http://www.prisonplanet.com/germany-dampens-hopes-as-france-warns-of-euro-explosion.html
URLs in this post:
 AFP: http://news.yahoo.com/credit-warning-gives-eu-summit-last-chance-debt-053646538.html
 France, Germany to propose new EU treaty-Sarkozy: http://www.prisonplanet.com/france-germany-to-propose-new-eu-treaty-sarkozy.html
 Germany, France push for ‘fiscal union’: http://www.prisonplanet.com/germany-france-push-for-%e2%80%98fiscal-union%e2%80%99.html
 France & Germany: Save euro with one EU government: http://www.prisonplanet.com/france-germany-save-euro-with-one-eu-government.html
 Obama reads riot act to European leaders and orders them to take more dramatic action: http://www.prisonplanet.com/obama-reads-riot-act-to-european-leaders-and-orders-them-to-take-more-dramatic-action.html
 Rise of the Fourth Reich, how Germany is using the financial crisis to conquer Europe: http://www.prisonplanet.com/rise-of-the-fourth-reich-how-germany-is-using-the-financial-crisis-to-conquer-europe.html
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