They will meet in only a few hours. The new French president Francois Hollande has already warned German Chancellor Angela Merkel that he wants growth to be the way out of the crisis.
After being sworn in, Hollande delivered a 10 minute speech in which he vowed to “open a new path for Europe”, marking the end of the ‘Merkozy” era.
Angela Merkel said that she will “welcome the new leader with open arms”. However, Hollande’s proposals, such as issuing eurobonds to boost European investment or allowing the ECB to lend directly to governments, are totally opposed by the Chancellor.
As uncertainty grows in Europe, markets fell again on Monday amid the Greek political turmoil and anti-austerity protests across the continent.
As for Brussels, some are wondering why Hollande’s first official visit is not to Barroso. According to a Commission’s spokesperson, Barroso and Hollande are set to have their first meeting on Thursday during the NATO Summit in Camp David.