Pressure on one side and optimism, pessimism of the other: on the eve of a crucial summit to resolve the debt crisis, several actors gave the vote on Wednesday in a last attempt to guide decisions. "I stressed how important it is for the United States and the world that Europe is to succeed," said U.S. Treasury Secretary during the Paris stage of his European tour. "I am confident that it will succeed," said Timothy Geithner, after a meeting with his French counterpart Francois Baroin. American pressure is added to that of rating agencies, with the threat of Standard and Poor's (S & P) lowered the notes of most of the euro zone, including Germany and France, if it considers disappointing the results of the EU summit in Brussels on Thursday and Friday.
And Germany has showered as often on the eve of crucial meetings, the most optimistic hopes. "I am more pessimistic than last week about the possibility of a total agreement" because a "number of partners did not understand the seriousness of the situation," dramatized a government source in Berlin. She said "those who try to escape by tricks did not understand the expectations of" ultra-nervous investors with respect to the meeting.
Financial markets, having limited the damage Tuesday to threats of S & P, finished in the red Wednesday, after the German declaration. The Paris Bourse fell 0.11%, 0.57% Frankfurt, Madrid 0.79% while London and Milan lost 0.39% 1.24%. In New York, the Dow Jones gained 0.38% at closing and the Nasdaq 0.01% sold.
Tuesday after meeting with German officials and those of the European Central Bank (ECB), Timothy Geithner met in the evening with the future leader Mariano Rajoy of the Spanish government in Marseille. He was to meet Thursday to Italy's new Prime Minister Mario Monti. As he points since September, the American took advantage of this trip appropriately calibrated before the Brussels summit to emphasize a point dear to Washington to build a "firewall strong enough" to prevent the crisis area euro spirals out of control and drives the rest of the world, U.S. head into recession.
Athens demand "a powerful message to markets"
Nicolas Sarkozy has also taken part in the discussions said Wednesday before the House that "the risk of explosion" of the European Union was "pregnant" as the agreement reached Monday with Angela Merkel would not be applied. French Prime Minister Francois Fillon said Wednesday in Marseille that 27 member countries of the UnionEurope had "a duty of collective success." For his part, Finance Minister Evangelos Venizelos Greek Wednesday urged European leaders to "send a powerful message to markets" at the summit.
And Germany has showered as often on the eve of crucial meetings, the most optimistic hopes. "I am more pessimistic than last week about the possibility of a total agreement" because a "number of partners did not understand the seriousness of the situation," dramatized a government source in Berlin. She said "those who try to escape by tricks did not understand the expectations of" ultra-nervous investors with respect to the meeting.
Financial markets, having limited the damage Tuesday to threats of S & P, finished in the red Wednesday, after the German declaration. The Paris Bourse fell 0.11%, 0.57% Frankfurt, Madrid 0.79% while London and Milan lost 0.39% 1.24%. In New York, the Dow Jones gained 0.38% at closing and the Nasdaq 0.01% sold.
Tuesday after meeting with German officials and those of the European Central Bank (ECB), Timothy Geithner met in the evening with the future leader Mariano Rajoy of the Spanish government in Marseille. He was to meet Thursday to Italy's new Prime Minister Mario Monti. As he points since September, the American took advantage of this trip appropriately calibrated before the Brussels summit to emphasize a point dear to Washington to build a "firewall strong enough" to prevent the crisis area euro spirals out of control and drives the rest of the world, U.S. head into recession.
Athens demand "a powerful message to markets"
Nicolas Sarkozy has also taken part in the discussions said Wednesday before the House that "the risk of explosion" of the European Union was "pregnant" as the agreement reached Monday with Angela Merkel would not be applied. French Prime Minister Francois Fillon said Wednesday in Marseille that 27 member countries of the UnionEurope had "a duty of collective success." For his part, Finance Minister Evangelos Venizelos Greek Wednesday urged European leaders to "send a powerful message to markets" at the summit.
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