What have Merkel and Sarkozy really delivered?

Author: Adam Button | Category: News
What would you call Merkozy’s latest?
Reading about 20 stories on the comments from Merkel and Sarkozy. It has been described as a pledge, a vow, an agreement. Other say they have reached a dealreached a pact or hatched a plan.
What they really said: they will deliver a plan to recapitalize European banks and address the Greek debt crisis by the Nov. 3 Group of 20 summit.
Sarkozy:
“When it comes to recapitalizing the banks, our agreement with Germany is total.” The French president, however, said details would be decided at a future meeting.
Merkel:
They “are determined to do the necessary to ensure the recapitalization of Europe’s banks.”
At best this is a pledge to deliver a plan (Bloomberg) or something where they say deal is near (WSJ)
WSJ: The leaders of Germany and France said they will present a “comprehensive package” of measures against the crisis in euro-zone banking and government bonds by the end of this month but they gave few details, suggesting that Europe’s two top economies continue to spar over the plan’s specifics.
Now that`s a trade I want to take the other side of.
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