Log in
Please enter your login details

Skip to main content

Breaking News
  • Arab air strikes and clashes killed an estimated 176 fighters and civilians in Yemen on Monday, residents and media run by the Houthi movement said
  • European parliament’s Schulz says in favour of Greece remaining in Euro zone
  • Somalia’s al Shabaab Islamist group said it was behind a gun attack in the northeastern Kenyan town of Mandera
  • Poland should hold a referendum before joining the Euro, a senior adviser to its incoming president says, heralding a more cautious approach to European integration.
  • Migrant dies in Channel Tunnel, according to French authorities. Services are disrupted
  • Greek capital markets commission says stock market to remain closed until Wednesday
  • Afghanistan: suicide car bomber hits convoy of foreign forces in Kabul, casualties unclear
Facebook Twitter Google+ Reddit

Nicolas Sarkozy and Angela Merkel are calling for a quick deal on a second bailout for Greece after a meeting in Berlin. Merkel favours a scheme whereby banks and private creditors should accept some losses.

She said: “The main principal is a voluntary participation from the banks. That’s an important message for the banks because there are worries that we’re starting a credit crisis and we don’t want to take that risk.”

Sarkozy is reluctant to see French banks accepting any losses but stressed that France and Germany stood shoulder to shoulder on the issue and were agreed that a solution had to be found as soon as possible.

He said: “We want to act as soon as possible, without fixing a date, but September wouldn’t be “as fast as possible” and we’ll have other concerns in August, and as we’re already half way through June, so “as soon as possible” probably means July…”

The meeting came ahead of talks on Sunday to agree a second bailout package for Greece, which is needed to release the next 12 billion euros of the original bailout package.

More about: