The latest report about how Europe’s nations will be bailed out, what the role of the International Monetary Fund will be, whether Germany will block plans that cost its taxpayers too much, and the role of the United Kingdom in proceeding toward a comprehensive solution to these problems has scuttled hope that resolutions are just around the next corner.
It has been rumored recently that Spain will receive a partial bailout and that this will trigger European Central Bank purchases of its sovereign paper. This will in turn bring down the rates Spain must pay to raise money in the capital markets.
The latest bickering is between Germany and the U.K. Britain’s role in most of the big issues of recasting the finances of the region has been limited until now. The Financial Times reports:
Germany is planning to warn Britain that it will seek to cancel next month’s European budget summit if David Cameron, the prime minister, insists that he will veto any deal other than a total freeze on spending.
Angela Merkel, Germany’s chancellor, does not believe there is any point in holding the budget summit to agree on a seven-year framework for EU spending if Britain intends to veto any deal, say people close to the negotiations.
Douglas A. McIntyre
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.