Whatever……..
Paging Angela Merkel.
- France will reach 3% deficit target in 2013, but will choose its own structural reforms (so there!!)
- We have instruments in euro zone to help Spain if it decides to ask for them
- France favours ESM being allowed to capitalize banks directly with appropriate supervision conditions
- G7 call on Tuesday discussed need for closer economic integration, growth agenda Europe
- EFSF could also be used to intervene in Spain if aid needed in the short term
- There is an agreement to increase Dexia guarantees to 55 bln from 45 bln
