MidnightWatcher – Prophecy in Motion

By Louise Armitstead and Bruno Waterfield – “Plans to ‘decisively address’ the debt crisis this weekend were plunged into chaos on Thursday night as European leaders were forced to announce another ‘summit’ next week amid political deadlock between France and Germany.

A statement released by the Elysee Palace said that Nicolas Sarkozy and Angela Merkel would meet to discuss their “ambitious and comprehensive response” to the crisis ahead of the European Council summit on Sunday.

But in a tacit admission of the gulf between them, the statement added that resolutions would be ‘finally adopted’ at a ‘second meeting no later than Wednesday’.

Insiders said the weekend’s summit of European leaders came close to being cancelled altogether, with the French president Mr Sarkozy having to beg German Chancellor Mrs Merkel not to pull the plug during frantic telephone calls.

The news came as US President Barack Obama praised Mr Sarkozy and Mrs Merkel for working ‘diligently’ for a ‘politically sustainable’ solution to the eurozone crisis in a video conference with the two leaders and UK Prime Minister David Cameron.

The second summit delay sent shockwaves around the world. Politicians and financiers have been banking on repeated pledges from France and Germany to ‘decisively address’ the crisis by Sunday.” Read more.

Merkel rebuffs Sarkozy on euro zone solution – “France’s push to use more European Central Bank money to fight the euro zone debt crisis ran into strong resistance from Germany and other EU partners on Friday, leaving Paris increasingly isolated before a crucial summit. The rift between Europe’s two biggest powers has already forced leaders to tack on an extra summit in the coming week. They will now meet twice — on Sunday and Wednesday — to adopt a comprehensive strategy to fight the crisis that began in Greece, spread to Ireland and Portugal and is now threatening to engulf bigger economies in the 17-nation currency area.” Read more.