MarketMind just cannot comprehend how the leaders of the most powerful nations in the Euro Zone believe that they can make underachieving nations become competitive if the follow FrancoGerman practices.
But James Robbins agreed with me that the political pressures now on the German Chancellor do not necessarily make a Franco-German compromise harder to reach.
German chancellor Angela Merkel said details of the Franco-German package would be announced before the G20 summit in Cannes next month but she said France and Germany "are determined to do the necessary to ensure the recapitalisation of Europe's banks".