October 20, 2011
European leaders will be forced to hold a second summit, perhaps has early as Wednesday, because of the inability of Germany and France to reach a deal on key parts of the eurozone rescue plan, according to senior European officials.
The officials said the second summit had been forced, in part, because of a delay in getting final numbers on Greece’s debt levels from the so-called “troika” of international lenders, which have encountered disagreements over whether Athens can continue to meet its debt obligations.
But the main hindrance has been the inability of Angela Merkel, German chancellor, to get a mandate from the Bundestag to move forward with plans to increase the firepower of the €440bn eurozone rescue fund.
“There will be no agreements,” said one senior German official. “This will now happen Wednesday at the earliest.”
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