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- Steffen Seibert, German Chancellor’s chief spokesman
German Chancellor’s chief spokesman, Steffen Seibert, said EU law-makers won’t be able to solve the debt crisis in one step at October 23 summit.
“Dreams that are taking hold again now that with this package everything will be solved and everything will be over on Monday won’t be able to be fulfilled,” said Seibert at a briefing in Berlin on Mon-day. The search for solutions to the crisis “surely extends well into next year.”
Seibert’s statement “moved the disappointment trade to this [Monday’s] morning,” Carl Weinberg, founder and chief economist at High Frequency Economics. “We’re looking at a really big disappointment if we don’t get a funded, operational and agile response to the bank recapitalization problem as soon as possible.”