Lowering Expectations and Rising Tensions: the Informal EU Summit

By Tony Connelly, RTE Europe Editor, in Brussels The verdict from the markets on the May 23 informal summit in Brussels is already clear. The euro slumped to a 22 month low against the dollar, investors flooded into the safe haven of German bunds, and fevered speculation continued about a Greek exit from the euro. Before the meeting officials did their best not to raise expectations. This was after all an informal meeting and normally no big decisions are taken. …