Sarkozy, Medvedev and Merkel to meet in French port DeauvilleCurious development here, especially for those old enough to recall the days of the Cold War between the US and the USSR. France and Germany were merely satellites of the US. They were powerful countries, yes, but they were always reliant on the "nod" of the big brother across the Atlantic - the USA.
PARIS, Sept. 27 (Xinhua) -- French President Nicolas Sarkozy, Russian President Dmitri Medvedev and German Chancellor Angela Merkel will meet during Oct. 18-19 in Deauville, a port in northwest France, Sarkozy's office said Monday.
"The meeting will be an occasion for the three countries to have the exchanges deepened in our partnerships in all areas and talk about our common security issues," it said in a statement.
The meeting, which is to take place several weeks before the G20 summit in Seoul, South Korea, will partiularly address the issues concerning the G20 and the G8 in 2011. Sarkozy is expected to share his perspectives with the other two leaders over the two international platforms, the statement added.
The Seoul summit, scheduled for Dec. 11-12, is expected to focus on reforms of supervision of international financial systems, among others.
France is to take over the G20 presidency from December following the summit, and to assume G8 presidency early next year.
It's also interesting to note that Jim Rickards recently described a potential situation where the Euro region was split in two - the Northern tier, and the currently troubled Periphery. He also said that there is the possibility that Germany (and possible other Northern European countries) would join with resource rich Russia in forming an economic block. Here is the blog entry on KWN: What G20 will not discuss this weekend (but probably should) [note, this referred to the last G20 meeting that took place last June in Toronto.
Jim Willie on Financial Sense New Hour also discussed a similar possibility:
SDR Strawman & Gold-Backed Euro
The two new Euro initiatives serve as systemic threats, delivered from outside the power center, as attacks to the crippled fiat flanks. The mere split of the Euro into two tiers, a seemingly sensible maneuver, avoids difficult decisions like bank-held bond writedowns, bank shutdowns, the whiplash effect of a fast rising new currency, and much more. Germany and France are examining a Two-Tier Euro currency structure. The intermediate stage of the new Northern Euro currency is in progress. The motive is to create a firewall of protection from the Southern imploding PIGS nations. German and French finance ministers are attempting to design a Two-Tier Euro currency system to separate stronger Northern European countries, protecting them from being dragged down by the weaker insolvent Southern states. A collectivist Southern solution protects banks exposed to sovereign debt, rather than a single nation being expelled. However, they will tend to sink together rather than alone. The UK Daily Telegraph is the intrepid source for the dramatic option. See the article (CLICK HERE).Meanwhile, Tim Geithner is lonely in battling the Yuan at the upcoming G20 meeting in South Korea this November. See: U.S. set to be a posse of one on China yuan at G20.
This November's G20 meeting in South Korea promises to be very interesting...