Eurozone Crisis: Sarkozy Proves EU Not Too Proud To Beg, Asks Cameron To Shut Up

The President of France, Nicolas Sarkozy, Plans to call the Chinese Premier a day ahead of the visit of the European Financial Stability Facility’s (EFSF) trip to the Asian Tiger Giant.

According to Bloomberg, Laus Regling, head of the EFSF plans to roadshow the Fund in China on Friday.
The EFSF is a vehicle set up as a response to the Eurozone sovereigns crisis. Its primary function is to steer the region out of the crisis by selling bonds in order to provide liquidity to countries that have a financing deficit as well as to recapitalize troubled banks.

There is need for the region to stabilize quickly in order to avert a second global economic catastrophe that experts predict will dwarf the recession of 2008.

The magnitude of the crisis that centers around Greece sovereign debt instruments is so enormous that the ripple effects on countries like France are nothing to trifle with.

The heated debate about where the financing will originate from to avert the looming economic disaster recently caused world leaders to act a tad bit out of character as Sarkozy recently told British leader David Cameron to “shut up”. Further adding, “We are sick of you criticizing us and telling us what to do. You say you hate the Euro and now you want to interfere in our meetings.”

The incident was as a result of David Cameron insisting he be allowed to attend meetings, even though Britain is not a member of the European Union and does not share a common currency with the region.

As Sarkozy reaches out to the Chinese premier in a matter of hours, it can be expected that positive news will emerge from the communications. Maybe not necessarily as a result of any benevolent gesture of good will on China’s part but largely due to the fact that as the Eurozone region suffers, China’s economy also suffers as its exports and Euro denominated foreign reserves are threatened by any economic tremors in the EU.