Tuesday, October 21, 2008


I doubt if there is much French kissing going on in the Spanish corridors of power – spitting blood, very possibly.

The French president who is also the current president of the EU, Nicolas Sarkozy, has announced that he is calling a meeting of European leaders to prepare for the world conference on reforming the international finance system - but he hasn’t invited Spain.

Spain represents the fourth largest economy in the EU block and its government was angered when it wasn’t invited to a previous top level meeting as the financial crisis broke.

Obviously no nation likes to be snubbed in this way. On the other hand, thank God, Spain has largely been spared the financial mayhem that has been visited on France, Germany, Belgium, Holland and other EU countries.

As several British banks have been rescued by Spain’s largest bank, Santander, which also pumped money in to the market to help liquidity – it could be that Zapatero’s presence would be an embarrassment.

It would have been nice to be asked though.

Mind you Sarkozy has even rubbed his friends up the wrong way. German’s chancellor, Angela Merkel, has admitted that she doesn’t like the touchy, feely ways of her French counterpart. She says its nothing personal – it’s just that Germans prefer to shake hands whilst the French kiss.

I reckon Zapatero has got off lightly!

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