The much anticipated press conference between Merkel and Barroso, hence Barkel, in which nothing of any substance will be announced, has begun. Rolling headlines as we get them:
- MERKEL SAYS WE NEED MORE EUROPE, NOT LESS IN EURO-ZONE (sounds familiar)
- MERKEL SAYS WILL DISCUSS EUROPEAN SUPERVISIONS OF BANKS AT EU SUMMIT, BANKING SUPERVISION IS A MID-TERM GOAL
- BARROSO SAYS WILL PUSH FOR BANKING UNION AT THE COMING SUMMIT
- MERKEL SAYS EU NEEDS ANSWERS SOON ON POLITICAL UNION
- MERKEL SAYS DISCUSSING EU BANKING SUPERVISION WITH BARROSO
- BARROSO SAYS EU SHOULD DISCUSS ELEMENTS OF 'BANKING UNION' -> we agree to hold another conference at a future time
And... that's it folks. Proceed to the egress.