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Sunday, October 09, 2011

Report: Merkel, Sarkozy Reach General Agreement on Bank Recapitalization

by Calculated Risk on 10/09/2011 04:13:00 PM

No details, but a new "deadline": the end of October. There is a meeting of European leaders scheduled for Oct 17th and 18th summit in Brussels.

• From the Financial Times: Merkel and Sarkozy set euro deadline

France and Germany have set themselves a deadline of the end of October to reach agreement on a comprehensive package of measures to stabilise the eurozone, including the recapitalisation of European banks if they need it.
excerpt with permission
• From the WSJ: Merkel, Sarkozy Claim Broad Agreement to Stabilize Euro Zone
German Chancellor Angela Merkel and French President Nicolas Sarkozy said Sunday that they have reached broad agreement on a plan to shore up Europe's battered banks and restore stability to the euro zone. ...

"We are determined to do what is necessary to guarantee the recapitalization of our banks," Mrs. Merkel told reporters. "We will make proposals in a comprehensive package that will enable closer cooperation between euro-zone countries that will include changes to treaties."
Yesterday:
Summary for Week Ending Oct 7th
Schedule for Week of Oct 9th