“Contagion is a reality,” said one, “there isn’t a nation in the eurozone – Germany included – that isn’t now exposed because of past political sloth and smugness. France is already a real risk. And if that’s confirmed by a downgrade, then the only trustworthy debt guarantor would be Germany. And as Merkel won’t be allowed to even go there, that just leaves Mario Draghi in the Central Bank”.
via FRANCE’S TRIPLE-A RATING: Elysee ‘expects it to go within days’ – sources | The Slog.
Angela Merkel: Britain is still an important EU member
Merkel said that, while she regrets the decision, “it is beyond doubt for me that Great Britain will in future continue to be an important partner in the European Union”.
Jokes. If the UK doesn’t pony up an extra £50bn into the IMF to prop up a currency we aren’t a member of, the Eurozone rescue plan to plan blows up again. Time for another conference people, theres nothing urgent… UK to resist calls to give IMF more funds for euro-bailout