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After G 20: It´s not Merkozy but Obakozy!

Sarkozy, le petit Napoleon. Photo Credit AFP PHOTO / POOL / ERIC FEFERBERG

The trendy new word nowadays is : the Merkozy.  It is a sort of translation of the good agreement between Angela Merkel and Nicolas Sarkozy in Cannes. But the reality is that Paris and Berlin have different ideas of what to do in order to save the Euro.

After the G-20 not only Sarkozy got along with German Chancellor A. Merkel, but also with U.S. President Obama.

France´s position to avoid the euro crisis is closer to the strategic interests of Washington DC.

After the U.S. finantial crisis in 2008, many in the american government worried about how to avoid the decadence of  the country as the one and only superpower in the world.  The jey answer to that dilemma was one: keep the U.S. dollar as the main currency in the world.

Many nations, including Germany, France, China and the rest of the BRIC nations saw the american crisis as an opportunity to promote the Euro as the main currency, insetad of the dollar. And at that moment (2008) that sounded realistic.

The U.S. was in one of the deepest crisis in history, and many saw it as an opportunity to grow in the world arena.

But then, in 2010, Europe started to face problems. It started with Ireland , Iceland and Greece, but now the European Union is divided in two, the North (wealthy and almighty) and the South (including Italy and Spain).

The U.S. is interested in a solution for the european crisis, but not any solution.  the U.S. does not want Germany to prevail in this crisis as the center of Europe, with a strong Euro and with the control of the European Central Banck and the European Fonds.

The solution that is more compatible with U.S. national interests is the French strategy, of printing more Euros and save the countries in trouble basucally wiith an expansion of the monetary policy, not putting emphasis in a rigid fiscal policy like the germans want.

Obama and Sarkozy agreed in Cannes during the G-20, and France has now the support of the U.S.

Sarkozy could win the next elections in France. New dad, winner in Libya and now Sarkozy seems to have the helm of the EU. Including the I.M.F. is near to Paris.

Therefore, the trendy word should be Obakozy, not Merkozy.

But, the majority still believe that Merkel and Sarkozy work the crisis in perfect harmony. READ MORE HERE