‘We can’t yet confirm that this will be the full extent and length of the global financial crisis’

Angela Merkel calls for a new financial constitutionAngela Merkel calls for a new financial constitution | (Image: Bertelmans Stiftung)On 26 October, German chancellor Angela Merkel pushes for the creation of a new ‘financial constitution’, in which emergent and industrialised economies will work together efficiently to overcome the crisis. China, the giant, enters the game


‘The world crisis has shown that it’s safer to be with the strong, among the strong and to have influence on the decisions of the strong’

Donald Tusk is looking forward to January 2012Donald Tusk is looking forward to January 2012 | (Photo: batheq/ Flickr)On 27 October Donald Tusk, prime minister of Poland, expresses his wish for his country to quickly enter the Eurozone. However, he must count on the support of a large part of the opposition (in order to be able to reform the constitution), but they currently refuse him this support. Tusk is not discarding the possibility of holding a referendum in order to achieve his objective

‘There is no systematic risk for Bulgarian banks. The deposits in Bulgaria are the most guaranteed in Europe’

Serguéi Stanichev is happy and stableSerguéi Stanichev is happy and stable | (Image: European commission)On 17 October, Bulgarian prime minister Serguei Stanishev shows his determination in the face of the global financial crisis. His government confirms that no bank in the country is running the risk of becoming insolvent. They have even increased the amount that is guaranteed for personal deposits from 20, 000 to 50, 000 euros, in case of an institution becoming bankrupt

‘The economic crisis could be an opportunity to reconcile Europeans with Europe/ the European Union which worries, if it reaches an agreement, could become the European Union which protects’

Nicolas Sarkozy wants a series of summits to be heldNicolas Sarkozy wants a series of summits to be held | (Image: European commission)On 16 October, the current president of the European Union, French chief Nicolas Sarkozy, underlines the importance of giving the EU new powerful institutions. He also hopes that from December onwards all the 27 members of the EU will have ratified the Lisbon treaty, with the exception of Ireland, which by this date must have found a solution for the approval of the text (they voted ‘no’ in a referendum in June)

‘We will continue to work with our partners to overcome current uncertainties’

Brian Cowen wants sleeves rolling upBrian Cowen wants sleeves rolling up | (Image: European commission)On 15 October, Irish prime minister Brian Cowen talks about the plan that his government is to present in order to end the deadlock on the said Lisbon treaty. The plan envisages the creation of stronger institutions for the EU, which is indispensable in times of crisis like today, according to Cowen