European leaders ended their informal summit in Brussels with a message of support for Greece and a collective wish the country should remain within the eurozone.
While some continued to prepare contingency plans for the country leaving the euro, many Greeks are now hopeful that France’s new President will fight their corner against the German Chancellor.
European Central Bank President, Mario Draghi also did his best to keep the euro ship afloat, calling on governments to take a “courageous leap of political imagination” to safeguard the future of the eurozone.
What is clear from this meeting is that the dynamic has significantly changed. At all previous summits, President Francois Hollande’s predecessor, Nicolas Sarkozy, had met with Chancellor Angela Merkel to fix a strategy beforehand.
Now it seems there will be a change from diktats coming from Berlin and Paris with more involvement from other countries. There is also a growing movement who favour Hollande’s call for growth strategies over Merkel’s focus on budgetary discipline.
Hollande was also vocal about his support for eurobonds, to which the German Chancellor remains opposed.
Euronews’ correspondent in Brussels said:
“The German chancellor and the French President have met three times within a week, but there are still many areas of conflict. Whether or not they’ll be able to find compromises that work for them both by next months summer summit remains unclear.”