“Detailed deal” on anything unlikely mate
Expectations of anything meaningful coming out of the two day conflab are extremely looooooooow.
- Euro leaders must advance on bank oversight
- Need quick solution on Spain banks
- EFSF, ESM available to help in euro area
- Van Rompuy report weighed toward mutual debt
- Report unclear on how to pool debt
- Germany rejects recapitalisation of banks with bailout funds if supervisory controls stay at national level
- Can’t raise summit expectations too high
- EIB to get 10 bln euros new capital, Germany’s share 1.6 bln
- On the Italy question, Germany is sceptical about developing yet another instrument to solve problems
- It’s up to states with problems to decide whether, when and how to use the available instruments
- We would warn against ‘exaggerated panic-mongering’ over the very high interest rates currently for Spain and Italy
- EU summit cannot decide anything new on Greece before the Troika report out, the country must stick to its obligations
