Another week, another European summit. On Thursday, E.U. leaders will huddle together in Brussels to try and fix the euro zone. And no one has high hopes — financial markets are all tanking Monday because, apparently, they’re already gloomy about the outcome.
Why so much pessimism? One problem is that the leaders of the euro zone’s four biggest economies — Germany’s Angela Merkel, France’s Francois Hollande, Spain’s Mariano Rajoy, and Italy’s Mario Monti — can’t agree on what steps need to be taken to get Europe growing again. This Venn diagram from a new Exane BNP Paribas report (pdf) illustrates.
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Of course, what all these bankster tools want is more centrally planned government. They differ only on who gets control and what central plans should be implemented first.