Whether Germany’s Angela Merkel decides to be Germany’s new Iron Chancellor or Merkel in the Middle may be beside the point, as the bond markets continue to deliver a negative verdict on the Eurozone crisis, with EU yields sticking stubbornly high and borrowing costs soaring.
Because it could take months more for either Germany’s Merkel or France’s Nicolas Sarkozy to get the 17 members of the European Union to agree on measures to save the eurozone, as the markets now threaten a rapid loss of faith in Italy, Spain and France within the span of the next several weeks.
Another European summit could render a deal on December 9, the next scheduled meeting, but for the markets that may be “a day late, a euro short.”
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Because it could take months more for either Germany’s Merkel or France’s Nicolas Sarkozy to get the 17 members of the European Union to agree on measures to save the eurozone, as the markets now threaten a rapid loss of faith in Italy, Spain and France within the span of the next several weeks.
Another European summit could render a deal on December 9, the next scheduled meeting, but for the markets that may be “a day late, a euro short.”
