“I’m very worried, this building [the Treasury] is very worried and this
government is very worried,” said George Osborne of the unfolding crisis in the Eurozone. In an interview with the FT, the chancellor goes on to say that he is in constant contact with his
continental counterparts and urges them once again to “get a grip”.
Eurozone leaders are meeting today to discuss further loans to Greece. Three options are being considered: first, an extension of the European Financial Stability Facility; second, private sector creditors re-lend money for a longer period and at a lower rate; third, impose a tax on banks to secure revenue for Greece. Despite a crisis meeting in Berlin last night between Sarkozy and Merkel, European leaders are yet to alight firmly on any option, although there are rumours of a ‘common Franco-German position’.
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