2nd December 2011
However the stakes remain high. Yahoo Voices carries the opinion of a senior Belgium politician.
Former Prime Minister and leader of the Alliance of Liberals and Democrats in the European Parliament, Guy Verhofstadt says: "International companies have started preparations for the breakup of the Eurozone. The EU is fast approaching the breaking point of the euro and it is not because of Greece or Italy, but because of the incapacity of the two main players today in European politics – the incapacity of Merkel and Sarkozy to deal with this crisis."
The Guardian suggests that Merkel is still reluctant to bail out the eurozone periphery. She told the German Parliament: "The ECB's role is different from that of the Federal Reserve and Bank of England. Its role is stabilise the value of the currency." However in the same speech, Merkel did suggest that the ECB may need to buy up the bonds of periphery countries in the "short term".