Wroclaw: Euro ministers struggle to find way out of crisis

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Is this informal Ecofin meeting in Poland really bringing Europe closer to solving the euro crisis?

It looks like nothing has been achieved. No new measures have been agreed here in Wroclaw, but that's just the way things go at informal meetings like this one.

Greece underlined its commitment to meet its fiscal targets for this year and next. That also not a major new development.

United States Treasury Secretary Timothy Geithner met with the euro finance ministers and pressed for unity. He warned that if Europe can't solve its problems on its own, then outsiders like the U.S., or maybe even China, may have to intervene.

The message from meetings such as this one not always in words only.

It can also be in what one sees. That seems to be the case here in Wroclaw.

After the traditional family photo, Eurogroup President Jean-Claude Juncker stayed in his seat to talk to German finance minister Wolfgang Schauble.

Being seen talking to Germany's top official at this meeting is a clear signal that the eurogroup is not happy with mixed messages coming out of Berlin.

Germany has been under fire in recent days for speaking with different voices on the pros and cons of creating Eurobonds.

Merkel has openly questioned Eurobonds, while the European Commission on Wednesday announced plans for formal proposals during the coming months.

And other German ministers this week said Germany is preparing in secret for a Greek government default, also spooking financial markets.

At the eurogroup press conference on Friday, Juncker urged politicians to restrain themselves verbally.

"verbal discipline"

Juncker's good friend JeanClaude Trichet, chief of the ECB, underlined that point:
"Not words, deeds"

It's clear that the cacophony in Europe's capitals from the last few weeks has made it more difficult for policymakers to work on a lasting solution for the euro crisis.

The Eurogroup and the ECB now are sending a clear message:

Action is what is required. Not words.

If that message is the result of an important meeting like this one, it's clear that Europe's finance ministers really are struggling to resolve the hurdles that are holding up the rescue plan for the euro.

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