Stock markets are soaring, apparently in anticipation that Europe may finally strike a deal that “saves the euro”. But here in Washington, they don’t seem so convinced.
President Obama met the leaders of the European Commission and the European Council earlier this week (Barroso and Van Rompuy, in case you have forgotten.) They outlined to him the measures that they expect the EU to take at the December 9th summit. The Commission have also been briefing the IMF. But neither the Obama administation nor the IMF seem to be exactly jumping for joy at what they are hearing from Brussels. Read more