Welcome back to our live coverage of the eurozone crisis. By Tom Burgis and Kimiko de Freytas-Tamura on the newsdesk in London, with contributions from FT correspondents around the world. All times are GMT.
A summit in Brussels ended in deep division, with the UK refusing to back a new treaty for all 27 EU members and leaving the eurozone countries plus at least six others to forge ahead with a pact of their own to enshrine strict new rules on deficits and debt. It was meant to be the summit that would decisively chart a course out of the eurozone’s debt crisis.
19.03 That’s the end of our live coverage today. We’ll leave you with a quick summary of the day’s developments. See FT.com for more news and analysis through the evening.
Welcome back to our live coverage of the eurozone crisis. By Tom Burgis on the newsdesk in London, with contributions from FT correspondents around the world. All times are GMT.
18.25 That’s the end of our live coverage of the eurozone crisis today. We’ll be back tomorrow morning for a day that includes the ECB rates decision and Mario Draghi’s press conference, as well as the meeting of centre-right European leaders in Marseille ahead of the start of the EU summit in Brussels in the evening. And, just as the leaders tuck in their napkins for a working dinner, the European banking authority will unveil the details of which banks need to raise what capital.
Welcome to our continuing coverage of the eurozone crisis. All times are GMT. By Tom Burgis, James Crabtree and John Aglionby on the news desk in London, with contributions from FT correspondents around the world.
The turmoil in the eurozone has taken a troubling turn in recent days, with anxiety spreading from Europe’s periphery to its “core” countries. Even as Italy’s Mario Monti readies his economic agenda to be presented today, investors are looking at France, the Netherlands and Austria with increasing unease and wondering whether the ECB might yet ride to the rescue. Over in Greece, today is the anniversary of 1973′s mass student protests – with demonstrators once more planning to take to the streets. And the bond markets are showing ever more strain, with today’s Spanish bond auction souring sentiment still further.
Nicolas Sarkozy, French president and G20 host, blows a kiss to someone - presumably not the Greek prime minister (AFP/Getty)
One issue dominates the agenda for as the Group of 20 leading economies enters its second and final: the fate of the eurozone amid the turmoil in Greece.
16.41: That’s it for the live blog for today. See FT.com over the coming hours for news and analysis on the G20 summit, Berlusconi’s woes and the outcome of tonight’s Greek vote.
16.31: Before we wind up the live blog, a brief re-cap of the day’s developments
Getty
Welcome back to the FT’s live coverage of the eurozone crisis. By Tom Burgis and John Aglionby on the news desk in London, with contributions from correspondents around the world. All times are GMT.
One issue dominates the agenda for today and tomorrow’s summit of the Group of 20 leading economies: the fate of the eurozone amid the turmoil in Greece.
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19.30: And what will tomorrow bring? Who knows. It’s day two of the G20 summit, the confidence vote in the Greek parliament and the US non-farm payrolls (monthly unemployment data) are announced.
Thanks for all your comments and tweets today – especially the song suggestions! For further updates from the late-night meetings in Cannes follow ft.com
Welcome back to our continuing coverage of the eurozone crisis. In the early hours of the morning, eurozone leaders emerged from their summit in Brussels with a deal designed to stem the sovereign debt crisis. The markets seem pleased but big questions on the details remain. We’ll bring you reactions, news and commentary as we get it throughout the day.
All times are London time. By Tom Burgis on the news desk in London, with contributions from FT correspondents around the world.
18.34: It’s time to wrap up the live blog for today. But keep reading FT.com through the evening for:
18.13: Der Spiegel has a nice tale about whether or not Angela Merkel did in fact apologise to Silvio Berlusconi for appearing to smirk when asked publicly if she still had faith in his leadership.
18.07: Chatham House has just published a paper arguing that international debt bailout systems are ill-equipped to handle any further instability.
“As the problems in the eurozone deepen and threaten to spread globally, action is required to strengthen financial safety nets beyond what was agreed by EU Heads of State on 27 October 2011.”
Read the full report by Stephen Pickford, former managing director at the UK Treasury and former executive director at the IMF.
18.00: An evening update of the day’s developments:
Welcome back to our continuing coverage of the eurozone crisis as we head into the evening. Europe’s leaders have gathered in Brussels to try to deliver a solution to the sovereign debt crisis. It has been a nervy day in the markets and national capitals – all of which you can read about on our live coverage from earlier on. Tonight we should discover whether Europe’s leaders can overcome their differences and chart a course towards recovery or whether they will once again fail to reach a deal. We’ll bring you news and commentary as we get it.
All times are London time. By Tom Burgis on the news desk in London, with contributions from FT correspondents around the world.
22.38: We’re going to wrap up our live coverage from London now. But fear not, the FT reporters at the summit will not rest until we have an outcome from the evening’s second summit, of all 17 eurozone leaders. See ft.com for all the latest news.
It seems only right to give the final word on today’s developments to Justin Timberlake, whose new film, In Time, has the strap line: “Tomorrow is a luxury you can’t afford.” Over the coming hours we’ll discover whether European leaders – and the markets – share that sentiment.
22.35: A quick recap on what we know so far
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