Cliff Taylor: Where's the beef, Ms Merkel?
The Merkel/Sarkozy press conference was notable for its lack of any detail. Sceptical investors will be suspicious that the two of them are making it up as they go along.
Little reaction in the markets to the announcement by Angela Merkel and Nicolas Sarkozy that they are coming up with a plan to deal with the crisis and recapitalise the euro zone banking sector. A year ago such an announcement would probably have led to a big surge in share prices and much celebration. Now sceptical investors will be asking - where's the beef? The Merkel/Sarkozy press conference was notable for its lack of any...
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