EU Agrees to Disagree on Debt Crisis until 2013 Whilst Greece Smolders in Riots and Firebombs

Politics / Global Debt Crisis Dec 16, 2010 - 05:43 AM

By: Mike_Shedlock

Pretty speeches regarding solidarity will not solve the European debt crisis. Yet, as Greece smolders in riots and firebombs over various austerity measures, pretty speeches, untenable pledges regarding haircuts, and continual bickering remain the only action items of note coming from Europe.

Smoldering Politics

Greece is not the only thing smoldering right now. Eurozone politics is on the front burner, with the heat on high.

Please consider Europe Staggers as Critical Summit Looms http://www.nytimes.com/2010/12/16/world ... ss&emc=rss

Europe’s smoldering financial crisis flared up on Wednesday, with riots over austerity spending in Greece, new signs of troubles in Spain and little indication that European leaders were moving any closer to agreement on a systemic approach to long-term stability.

In remarks to the German Parliament on Wednesday, Germany’s chancellor, Angela Merkel, tried to reassure the markets and answer some of her own critics by allaying fears about the future of the 16-nation monetary union.

“No one in Europe will be left alone, no one in Europe will be abandoned,â€