EU debt crisis summit: live report

Earlier today German Chancellor Angela Merkel was able to convince fellow Parliamentarians to support her plan to support the Euro.  In an overwhelming majority of 503 votes for and 89 votes against, with four abstentions the German Bundestag voted in favour of her measures.

Her actions took leadership, when you consider the distaste German have against bailing out other European nations.  The crisis has truly gone global.  Failure would ignite another global crisis.

As Europeans started the summit this afternoon local time Merkel struck a note of criticism.  Markets so far have responded positively, believing that the leaders will reach a deal to subvert a crisis.

Below is an AFP source which will give live updates on the summit.

1507 GMT: German ChancellorAngela Merkel has arrived, and struck a pessimistic note in her opening words to reporters.

“There are still many problems to settle and negotiations to carry out, so the work is not yet over,” she says.

1500 GMT: Welcome to AFP’s live coverage of events in Brussels, where European leaders are holding a crucial summit on the eurozone debt crisis.

With an hour to go before the summit opens, we’ll bring you live updates from Brussels and reaction from around the world.

Here’s a summary of today’s main developments so far:

– Hopes are dimming that the gathering of European presidents and prime ministers will come up with a watertight deal to ward off fears of global recession.

via EU debt crisis summit: live report –

Leadership is the art of convincing others to do willingly what you want them to do.  This is lost on some politicians.  Kudos to Angela Merkel.

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