The EU Summit is key to determine Merkel's fate
Yesterday's meeting was just the beginning but the EU Summit to come later this week on 28-29 June will be the key timeline for Merkel as the asylum policy continues to be the bane of her coalition government over the past month or so.
Merkel will be seeking talks with EU leaders to reach some sort of solution to satisfy her critics and failure to do so means that they'll be calling for her head as the end-of-June deadline comes to a close.
The euro doesn't seem too particularly phased by the possibility of this taking place just yet, and should a similar mood continue into the weekend, expect a major repricing at the start of next week if Merkel drops the ball.
