Monday, January 09, 2012

Merkozy pledge to speed up payments to ESM

There seems to have been a commitment to more French payments for the hopeless rescue of the euro according to this extract from a report on the Merkozy press conference this lunchtime from Reuters, linked here:

"Germany andFrance are ready - naturally in consultation with other countries - to check to what extent and how we can speed up the payment of capital (into the ESM), to once again show our trust in and our support for the euro area."

Speeding assets to the ESM is the last thing France now needs if it is to retain its triple a credit rating.



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