NEWS
- Spiegel’s Simon speaks of ‘big talk, but little action,’ as Merkel and Sarkozy ‘limited themselves to recommendations.’
- WSJ publishes Franco-German Proposal Disappoints.
- FTD writes ‘Germany and France demand from the other euro countries a stronger will to save.’ However, ‘in many countries there may be reservations against the austerity imperative. The move is therefore extremely risky: If only one country would reject it, the opposite to the actual goal would be achieved.’
- Handelsblatt notes that ‘more integration’ is Merkel and Sarkozy’s answer to sceptical investors.
- Focus speaks of ‘no carrot, just whip’, as Merkel and Sarkozy pledge ‘a common economic government, a joint debt limit, but no common euro bonds’, which would bring ‘a better chance of success to their plan.’
- FT cites ‘lack of details’ as a principal concern.
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