Friday, 21 October 2011

CNBC- The EU Summit — A Roadmap

Here's a simplified schedule of the EU Summit this weekend — and Wednesday:

1) Tomorrow-Saturday: Eurogroup finance ministers meet

2) Saturday: Chancellor Merkel and President Sarkozy meet

3) Sunday: EU leaders meet. It appears no agreement will be formally announced, but leaders will huddle to discuss the "agreement in depth." Get that?

4) Wednesday: Call it Summit 2, a "definitive agreement" on bank recapitalization, the EFSF will be announced. That, according to a joint statement by Sarkozy and Merkel that was issued this afternoon.

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