- He and Merkel were “coherent” at g20
- Europe must act quickly
- IMF not there to backstop the euro zone
- Euro zone must find own solution to crisis not rely on outside help
Merkel:
- Greece must stick to rules
- Markets want closer EU union
- Need to wait for next Troika report on Greece
- Won’t speculate on easing Greek terms
- Expects Spain to submit formal request for aid for its banks soon
- Banks that are not sufficiently capitalized are a danger to the economy
Coherent? That’s a first…
