November 28, 2011 – 4:52 am
For now, negotiations take place exclusively between Paris and Berlin. But they lead to an agreement that will cover all of Europe or at least throughout the euro area. France and Germany have intensified their discussions the last few hours to strengthen the stability pact. The objective is to outline their European partners before the summit of December 9. It is urgent: the crisis is worsening day by day, as evidenced by soaring rates in Italy and Spain last week online payday loan lenders. As the end of the year approaches, many economists wonder how the European states will be able to refinance in 2012. Worse, in the utmost secrecy, several large banks, especially Anglo-Saxon, have set up to enable internal protocols to protect their assets in case of breakdown of the euro area.
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