Sunday, October 23, 2011

Merkel: No Decisions Today, Announcement expected Wednesday

by Bill McBride on 10/23/2011 02:10:00 PM

From MarketWatch: Final agreement on package of measures expected Wednesday

“Today, we will not undertake any decisions, but will undertake preparatory work,” German Chancellor Angela Merkel told reporters Sunday in a joint news conference with French President Nicolas Sarkozy after a meeting of heads of state from all 27 European Union nations.

“A broad agreement is taking shape,” Sarkozy said, emphasizing that leaders aim to reach final agreement on a deal on Wednesday.

The fight over the EFSF is seen by economists as the most difficult issue. ... Merkel said European finance ministers on Saturday weighed two options for leveraging the EFSF, but that neither involved the ECB.
Yesterday:
Schedule for Week of Oct 23rd
Summary for Week ending Oct 21st