EU finance ministers come to meeting for discussing crisis in European banking system
Today, EU finance ministers would discuss the requirements for recapitalizing the European banking system. Tomorrow, EU leaders would meet to see if they could approve a comprehensive plan for resolving the two-year-old debt crisis, with another summit scheduled for Wednesday, because no breakthrough was expected.
Herman Van Rompuy as European Council President, Jose Manuel Barroso as European Commission president Angela Merkel as German chancellor, Nicolas Sarkozy as French president and Europe’s top two officials, would also meet tonight to try for breaking the deadlock before tomorrow’s summit. Jean-Claude Juncker as Luxembourg’s prime minister explained that disastrous was the failure to settle the debt crisis for Europe’s image, diplomats and senior officials would play down the likelihood of a major breakthrough this weekend.
This morning, Mr. Juncker as chairman of the euro group of finance ministers told that they had approved that owners of Greek bonds would have to take far more than the 21 per cent loss on those holdings which was approved in July. “Yesterday, we had approved that we should to have a significant improve in the banks’ contribution,” Mr. Juncker added.
In addition, Mr. Juncker as leader of the euro ministers had also said that he would prefer if that a deal was struck tomorrow and the second summit was not called. Many EU countries were afraid with an increase of that scale might not convince markets.
