Well the ToryGraph (via ZeroHedge) has a detailed report from inside the Eurocrats’ critical weekend deliberations. And it ain’t pretty.
Shell-shocked EU finance ministers meeting in Brussels on Saturday were already reeling from the worst Franco-German rift for over 20 years and a fractious failure to resolve the problems that have brought Greece, and the euro, close to the brink.
But then a new bombshell hit as a joint report by the EU and the International Monetary Fund (IMF) warned that, without a default, the Greek debt crisis alone could swallow the eurozone’s entire €440 billion bailout fund – leaving nothing to spare to help the affected banks of Italy, Spain or France.
“It was grim. The worst mood I have ever seen, a complete mess,” said one eurozone finance minister.
But wait, it gets better:
Chancellor Merkel is said to have been deeply wounded by one anecdote that Mr Sarkozy is said to have told another head of government about her.
“She says she is on a diet and then helps herself to a second helping of cheese,” the French president allegedly said after a dinner meeting with Mrs Merkel.
I suppose its better than 1871, but still:
A row between the pair in Frankfurt on Wednesday overshadowed leaving-do celebrations to mark the end of Jean-Claude Trichet’s nine years as the head of the ECB.
“Their shouting could be heard down the corridor in the concert hall where an orchestra was about to play the EU’s anthem, Ode to Joy,” said an incredulous EU official.
Anyone wanna go to the movies?
“This Ecofin meeting has been reduced to an academic seminar, an exercise with absolutely no purpose,” complained one finance minister.
So pointless was the gathering, that Didier Reynders, the Belgian finance minister, left early to attend the world premiere of the new Tintin film, The Secret of the Unicorn.