It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Thank you.
Some features of ATS will be disabled while you continue to use an ad-blocker.
French President Nicolas Sarkozy and German Chancellor Angela Merkel will meet next week as concerns over the spread of the euro-area debt crisis rattled French markets.
The leaders of Europe’s two biggest economies will discuss economic governance of the 17-nation euro region in Paris on Aug. 16, according to separate statements issued today by Sarkozy and Merkel’s offices.
Sarkozy and Merkel have called for their parliaments to approve measures by the end of September to strengthen the euro- area bailout fund as agreed by European leaders on July 21. They have also backed a European Central Bank role in determining when bond buying is needed to stop contagion.
Both leaders said at the July summit that “they would formulate joint recommendations aimed at strengthening political and economic governance in the euro area before the end of the summer,” the statement issued by the Chancellery in Berlin said. The proposals will feed into steps drawn up by European President Herman Van Rompuy on “improved working methods and a better crisis management in the euro area.”
Originally posted by majesticgent
I have been searching, but I cannot find anything that has come out of the Merkel and Sarkozy meeting. Has anyone else heard anything? From the way the stocks are looking today, nothing amazing must've come from it.
Originally posted by GoalPoster
Originally posted by majesticgent
I have been searching, but I cannot find anything that has come out of the Merkel and Sarkozy meeting. Has anyone else heard anything? From the way the stocks are looking today, nothing amazing must've come from it.
. . . here's an 'unofficial' transcript of their meeting . . .
[French President Sarkozy] Hello President Merkel
[German President Merkel] Hello you crazy old fart. I believe that we are here because we are screwed.
[French President Sarkozy] As a hooker during the leave of coast, my friend eating knackwurst.
[German President Merkel] What the hell we are in the process being. Everyone is poor. Are we going to have riots like they did in Britain?
[French President Sarkozy] I hope you realize that I do not understand a word you say, you stupid bastard
[German President Merkel] There's something hanging from your nose. Is that a booger?
[French President Sarkozy] I have a brand new pair of roller skates and you have a brand new key...
[German President Merkel] Start with that **** song again not to Melanie. As at the G20 did, I laughed so hard I piddled a little bit in my pants.
[French President Sarkozy] Well, I'll stop, but you buy me a beer. Now lets go out and talk to the mass media. We will tell them that everything is good. Before we go drinking, I must call my broker and move some values because it is going to be rocky there for a few days.
[German President Merkel] Good idea. This rodent Mickey Mouse is driving me crazy. The bottom of the Disney big time and I should drop this **** before everyone realizes that nobody has any money to go there, and the camp will perform as an old man's testicles.
Then they'll have a nice news conference and two days later the riots will start!!!!
The leaders of Europe’s two biggest economies have proposed a collective "government" for the eurozone 17-countries following discussions on how to deal with the area’s debts and ways to boost investor confidence following the sell-off of shares last week.
French president Nicolas Sarkozy and German chancellor Angela Merkel, who met in Paris, are also proposing that this government would be headed up by current European Union president Herman van Rompuy.
Mr Sarkozy also said that the issuance of euro bonds could be considered but only after the process of euro zone integration which could take years.
Currently eurozone members borrow separately in markets to fund their Government spending and that makes it difficult for cash-strapped countries like Ireland which is currently priced out of the market.
The introduction of euro bonds would mean eurozone members borrowing as one collective unit as is the case in the US.
Other plans include forcing member Government to signing up to balancing their finances and writing this into individual constitutions by mid 2012 and new taxes on financial transactions.
Germany and France are also working on "ambitious" joint plans to defend the euro, Mr Sarkozy said after the meeting.
Originally posted by marg6043
I can not wait to see the reaction of the populations of the countries involved.
Originally posted by marg6043
So the only way to bailout EU banks and the rest of the struggling countries is with the formation of a government? I can not wait to see the reaction of the populations of the countries involved.
Originally posted by marg6043
reply to post by TribeOfManyColours
A global dominance that will only include the highest ranks of the elite few of the world, to have entire nations and their populations at their mercy.
Originally posted by majesticgent
reply to post by TribeOfManyColours
So the general consensus in the Netherlands is that this is move is not wanted? I mean why would you all want to consume and take on all of those other countries debt right?
I could only imagine the upheaval if they seriously try to press forward with this.
I guess they will need a bigger crises to make everyone beg for it. Will stocks plunge tomorrow in the Eurozone with the "Fiscal Union" being the savior?
Stay tuned...
Originally posted by marg6043
reply to post by TribeOfManyColours
At least you get to raise up and fight for what is right, here in America we are too lazy, fat and on government wellfare and hand outs, to do that.
Good for you.