Guardian
October 26, 2011
D-day for Europe, and dozens of Italian journalists – all of them hoping to see the back of Silvio Berlusconi – began a desperate search for that letter: the 14-page missive from the three-term Italian prime minister to his fellow EU leaders designed to get them off his back.
The letter – which Berlusconi hopes will give him a respite from humiliating criticisms of his country's €1.9tn debt and stagnant economy – was in Rome, being touched up by his advisers, but it was one of three key elements to a day destined to determine Europe's future.
In Berlin, the new epicentre of political as well as economic Europe, the German chancellor, Angela Merkel, was putting the finishing touches to her government statement to the Bundestag on the broad shape of the new "bazooka" – the enhanced bailout fund, or EFSF, that would save Europe from any reprise of the sovereign debt crisis that has overtaxed the powers of EU leaders to assert the primacy of politics over the naked short-sellers of financial markets.
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