Monday 25 September 2017

Brendan Keenan: Summit stage offers drama but little to help solve euro crisis

Germany's Angela Merkel and France's
Nicolas Sarkozy held talks yesterday
Germany's Angela Merkel and France's Nicolas Sarkozy held talks yesterday
Brendan Keenan

Brendan Keenan

THERE was not much comfort to be taken from yesterday's "summit" between France and Germany on the euro crisis. Discomfort would be more like it.

The frequency and nature of the summits themselves is a cause of concern for smaller states, especially those in the single currency. France and Germany have always been the indispensable engine of the European Union but now they meet and announce policies in public, with the clear expectation that what they propose, Europe will dispose.

The policy proposals from yesterday's meeting were dramatic. Unfortunately, they were also largely irrelevant in terms of the debt crisis which threatens the existence of the euro, and the EU banking system.

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