Tactics, position games, ambiguity. Europe's enormous expectations at the international summit that will open this evening in Brussels seem to have already been disappointed. A decisive stance was expected, the demonstration of a firm will to take the first decisive step towards the economic stabilization of the Eurozone. But since yesterday the whirlwind of declarations has brought about the collapse of the house of cards. And even before it all begins, the protagonists in the field seem to have given up on any definitive political breakthrough. Meanwhile, the markets draw the consequences: despite the rate cut by the ECB, European lists are in deep red and spreads have started to rise again.
The latest statements in chronological order came from the German Chancellor, Angela Merkel, who in a sudden burst of optimism said she was "sure" that European leaders "they will find good solutions to all issues“, but he reiterated that the discussions “will be difficult”. Yesterday his spokesman, Steffen Seibert, had already helped to bury the European stock exchanges by predicting a "very demanding" summit and saying he was pessimistic about the possibility of reaching an agreement.
To the coldness of Berlin, Paris responds with apocalyptic omens of doom. If the next fight should also fail "there will be no second chance“, he warned Nicolas Sarkozy from Marseilles, where the summit of the European People's Party is underway. “Without an agreement between France and Germany – added the head of the Elysée – there is no chance among the other European countries. And this is something we cannot afford. If an agreement between the 27 countries is not possible, then it is done between the 17 states of the Eurozone“. In short, without a firm decision, Europe risks "exploding".
The most burning issue on the negotiating table is the Franco-German proposal to bring a series of changes to EU treaties. The German executive demands a real reform, while the other countries – represented by the president of the European Council, Herman Van Rompuy – would prefer to take a less drastic and less complicated path. In any case, whatever the way to get there, the ultimate goal is a very severe crackdown on the financial discipline of the Eurozone countries, with semi-automatic sanctions for those who violate the new fiscal rules. Other controversial points concern the role to be entrusted to the ECB and to the new EFSF State-saving Fund.
He thought about fueling the tension again David Cameron: “I want to be sure that we will have a good result for Great Britain – said the British premier -. London has many interests in the EU and we must ensure that they are taken into account”. A fire that the president of the Eurogroup, Jean-Claude Juncker, he tried to nip it in the bud: “There must be an agreement, the euro is not at risk, but if we discover that some of the member states of the European Union do not intend to march together, we will make an agreement among 17. I don't want to – he said again – for the UK to say it is not going to do what others are going to do. I wouldn't accept it."
