The French and Germans can’t agree on measures to make up a comprehensive package to deal with the euro Zone crisis. The Germans want a hierarchy of measures: 1)banks dealing with it themselves 2)national governments dealing with their own banks 3)EC B or bailout fund as place of last resort. The French want to go immediately to the ECB.
The Germans want an hierarchical approach because it saves the most money for the German taxpayer. The French want to go immediately to the ECB because they want Germany to pay for everything as the richest country in Europe.
In addition the Germans want Troikas everywhere in the future. If they’re going to give out money, they want to review the books. Naturally the French want to be more lax about this.
Viva la difference! Except that on October 17 there is to be a summit of Euro leaders in Brussels and on November 3 and 4 there is to be a meeting of the Group of 20 in Cannes, France. France and Germany have to come to a resolution.