Merkel, Sarkozy, set deadline for euro bailout plan

President Nicolas Sarkozy and Chancellor Angela Merkel have serious differences over how to fix the problems with currency and debt that is threatening to bring down the economies of Europe and the rest of the world. But they've papered over those differences and have agreed to agree that something must be done to deal with Greek default, recapitalize the banks, and fix the problems with the euro before it's too late. Reuters: German Chancellor Angela Merkel and French President Nicolas Sarkozy said after talks in Berlin on Sunday evening that their goal was to come up with a sustainable answer for Greece's woes, agree how to recapitalise European banks and present a plan for accelerating economic coordination in the euro zone by a G20 summit in Cannes on November 3-4. But they declined to reveal any details of their plan. As they met, British Prime Minister David Cameron urged them to take a "big bazooka" approach to the crisis, telling the Financial Times that euro zone leaders had...(Read Full Post)