Friday, October 21, 2011

Waiting game for euro crisis

by Stephanie Flanders

BBC News

October 21, 2011

I am on a Eurostar to Brussels. My train is delayed - but as it turns out, that grand solution to the eurozone's problems will be delayed as well.

All eyes were on this Sunday's summit of European heads. Now they are partly on that, and partly on Wednesday's follow-up summit, announced last night by France and Germany.

Those of us who have watched this crisis lurch from one "crunch-point" to the next will surely not be expecting Wednesday to be the final word.

In the past it has taken less than a week for the holes in past agreements to "save" the euro to become apparent to investors and everyone else. Plenty of time, then, to have another crisis of confidence in Europe's leaders, before the G20 summit in Cannes at the start of November.

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