Investors shouldn't expect a "big bang" when Chancellor Angela Merkel and President Nicolas Sarkozy meet in Paris tomorrow to discuss the euro-area debt crisis, Merkel's chief spokesman said.
Joint euro bonds, which "haven't been an issue" for Germany in the past and are still "not the right" solution now, will not be a topic for discussion in Paris, Steffen Seibert told reporters in Berlin today. He compared the expectations for the meeting to those before a July 21 summit of European leaders.
Merkel warned then that people were "expecting a big bang that will clear the whole sky over Europe and make all the problems disappear," Seibert said. "Such a big bag didn't take place on July 21. Instead, important steps emerged, the effects of which will unfold. You shouldn't expect such a big bag from the meeting tomorrow either. It is and remains a process."
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