Sunday, October 12, 2008

European Leaders Seek `One Voice' to Counter Crisis

Curt Here...

Europe is seeking one voice to counter the current economic crisis. This latest headline should catch our attention, because we know that some day, and it appears that some day soon, Europe will speak with one voice and one man will be in charge.

The ultimate goal of this man will be to make war with the Saints.

Keep looking up.

Stay tuned



Oct. 12 (Bloomberg) -- European leaders met to forge a new set of measures to combat the credit freeze after their failure to act a week ago contributed to the worst sell-off in the region's stocks in two decades.

``I want Europe to speak with one voice for Europe and for the world because this is a global crisis,'' French President Nicolas Sarkozy told reporters as he greeted European Commission President Jose Manuel Barroso at the Elysee Palace in Paris. Sarkozy said he's seeking ``an ambitious, coordinated plan.''

German Chancellor Angela Merkel, whose government earlier this month rejected French suggestions to form a joint bank- rescue fund, said yesterday the euro region will implement ``the same toolbox of instruments.'' Merkel, Sarkozy and their counterparts in the 15-nation euro region are being forced to shift stance as a deepening slide in financial markets has threatened to tip Europe into a prolonged recession.

``Measures by euro-area governments to end the financial crisis have been uncoordinated and insufficient,'' said Juergen Michels, a Citigroup Inc. economist in London. ``Increasing risks of an economic disaster might force governments to set up more coordinated and more comprehensive measures.''

U.K. Prime Minister Gordon Brown met Sarkozy, Barroso and European Central Bank President Jean-Claude Trichet. The leaders of the euro nations then gathered at 5 p.m. local time. The talks come after finance chiefs from the Group of Seven nations established guidelines on Oct. 10 for combating the credit crunch, while falling short of adopting new initiatives.

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