The signals coming out of this big EU meeting continue to sound grim.First, there was the Telegraph report about how the halls are filled with “despair” amid a complete collapse in French-German relations.
And now this: According to Peter Spiegel at FT, the leaders won’t even accomplish anything on bank recapitalizations this weekend. That was the one thing they’d hoped to have done, before coming back to solve everything else next week.
Meanwhile, there are rumours that the Wednesday meeting might not be the end, and it could spill over into Thursday.
Bottom line: Everything coming out of Europe suggests they’re not about to end this once and for all.