For the startup the approach is differentIssuers must also make a significant haircutWhile Citigroup still enjoys a Tier1 by 11Sitting on the dock Barbie has the blues4 of GDP this year would be more profoundTransmission a strategic issue for the CFAThe overall budget of the ICC represents 3Own fundsIt is not repeated the Dutch clean2 billion of financial flows are expected in the areaThe conflict the situation is unprecedentedAfter the clash, the reconciliation. The image of the handshake supported Mirek Topolanek, Czech Prime Minister, President of the Union, welcoming Nicolas Sarkozy arrived at the Brussels Summit, the heads of State and Government of the twenty-seven have chosen to to hide their differences to finally give the image of a United Europe to confront the crisis. The day before, the European Commission had, admittedly, cleared the ground by approving the French plan of support for the car (see below). Mirek Topolanek, who did not hesitate even a few days ago in accusing the France of protectionism, has totally changed speech. "Today there is no Europe of cases which bears on the competition." "The Commission has the situation well in hand and nobody has expressed distrust in its ability to enforce common rules," he said at the end of the Summit.
Nicolas Sarkozy, for its part, remains on the line. "Each admitted that none of us was protectionist", he welcomed. But immediately adding: "We did not asked to close factories among others." We asked to not close home. "This misunderstanding cleared up but until when the leaders of the Union focused on the responses to the financial and economic crisis.
Accelerate accession to the euro
In Central and Eastern to first European Member States. "I really felt a sense of solidarity and responsibility to them", José Manuel Barroso, the President of the Commission summarized. Dismissing the application for specific assistance made by the Hungary (see below), the heads of State and Government felt that the situation of each country was different and required a suitable treatment. They were responsible for the European Bank for reconstruction and development (EBRD) and the World Bank to increase their support to the most vulnerable economies by increasing, if possible, the loan of EUR 24.5 billion already released in their favour. They have also been open to the idea of accelerated procedures for accession to the euro, that openly demand the Hungary and the Poland.
In the whole of the Union then. The Summit reached a framework agreement on the treatment of toxic assets from banks. "It is an important decision to restore the granting of credit by banks," welcomed Nicolas Sarkozy. The President of the Republic explained that the twenty-seven had agreed to give each country the choice of the method (hiving-off structure) or guarantee system and a "flexible" on the determination of eligible assets. But a "common European framework" will oversee this type of intervention to avoid distortions of competition. Nicolas Sarkozy repeated that France, Britain and the Germany, did not contemplate thus relieve banks of their assets "rotten".
All participants also welcomed the measures advocated by Jacques de Larosière to strengthen financial supervision in Europe. The Commission draw from first directions Wednesday, the Summit in March will consider them, most of the Member States having called for concrete decisions to here in June. The Union wants to draw widely these recommendations for concerted action at the international level of the London G20 Summit on 2 April. This subject will be also on the menu of the United States-Europe meeting which will be Barack Obama, on 5 April in Prague.
