No end in sight for eurozone woes

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No end in sight for eurozone woes

Post  Mr007 on Sat Nov 05, 2011 4:20 am

President Sarkozy President Sarkozy continues to have a fight on his hands over the euro
Global Economy

* As it happened: Greek confidence vote
* How might Greece leave the euro?
* Eurozone crisis explained
* Euro deal at a glance

President Sarkozy sat alone, blew out his cheeks and raised his eyebrows at the start of this final day of the Cannes summit.

He knew that the G20 was not going to achieve what he wanted... nor what those outside the eurozone wanted either.

President Obama and the prime minister had said there were six weeks to save the euro. That was six weeks ago, and the euro is far from being saved

The British mutter about the Germans not stumping up the cash and the Chinese - who could - don't see why they should. But hold on, say insiders - it could all have been so much worse.

Whoever forms the next Greek government now knows there'll be no new deal, no choice but to stay in or get out of the EU and no point, therefore, in a referendum on the austerity measures.

And Italy has been forced to accept that the IMF will now take a long, hard and regular look at the country's books.

David Cameron says the world cannot wait while the eurozone has more internal debates and discussion, but wait it seems it must.

The French president had hoped for so much from his summit in Cannes, but when it comes to the eurozone the word, it seems, is can't.

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