Investments

Euro Talks Yield Progress

As Sarkozy and Cameron clash on bailout.

Passion leads to success? French President Nicolas Sarkozy quarreled with British Prime Minister David Cameron Sunday, after attempting to ban Britain and non-euro-zone countries from taking part in discussions to save Europe's banks next week. "We’re sick of you criticizing us and telling us what to do," Sarkozy told him. Officials meeting in Brussels over the weekend did manage to strike a $138 billion deal to recapitalize the European banks, but could not agree on how to expand the European Financial Stability Facility. Some leaders advocated using more resources from the IMF, which has already assisted with the Greece bailout. Others called for the creation of an entirely new body, to be created under the auspices of the IMF, which could attract outside investment in order to buy the bonds of troubled countries.