Wednesday, October 19, 2011

Eurozone leaders head for Frankfurt

Financial Times
October 19, 2011

France’s President Nicolas Sarkozy flew to Frankfurt on Wednesday night for an emergency meeting with leading players in the eurozone crisis including German chancellor Angela Merkel, as Franco-German differences bedevilled attempts to agree a comprehensive package of measures.

Amid signs of growing tension in the negotiations, the French head of state announced his sudden decision to attend the talks after a brief visit to the Paris maternity clinic where his wife Carla Bruni was due to give birth to their first baby.

He told a group of parliamentarians earlier that the talks had become bogged down over the issue of whether the European Central Bank should support the €440bn European Financial Stability Facility, the eurozone rescue fund set up to prevent contagion from the sovereign debt crisis.

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