in any case those who are not lying4 hours

Sunday, May 9: the last straight line

13 hours. A meeting is held in the European Commission to finalize the proposal to create the European support mechanism. Five Commissioners on 27, Michel Barnier, participate by teleconference. The motion was adopted unanimously.

15 hours. The meeting of European Finance Ministers begins under bad auspices. Barely lowered from his aircraft, the German Minister, Wolfgang Schäuble, nailed in a wheelchair since 1990, an allergic reaction to a drug. It must be to hospital in Brussels. Replacement, the German Chancellor hurry Brussels Thomas de Maizière, his Minister of the Interior, which happen to 20 hours and will travel immediately to the French delegation to speak with the French Minister of finance, Christine Lagarde. Barack Obama is again a few minutes to call Angela Merkel; This is the second time over the weekend. He reiterated that the United States want a "decisive action" to restore the confidence of the markets and not to penalise a fragile out of recession in the United States.

18 hours. Nicolas Sarkozy speaks on the phone with German Chancellor. The figure of 500 billion is for the first time put on the table. Barely an hour later, Barack Obama takes the phone to join the French President. The White House closely follows the evolution of the negotiations between European Finance Ministers, as well as the teams of the Treasury on Tim Geithner, who had contacts with his counterparts. The Federal Reserve has also acted swiftly, since Sunday morning, the monetary policy Committee met in Washington to vote the reopening of credit lines, to ensure that other central banks spread not dollars. Nicolas Sarkozy will be a third maintenance telephone key, with Jean-Claude Trichet, to set conditions for intervention by the ECB.

18: 45. Interdepartmental meeting of forty-five minutes stands in the Elysee Palace. Organized for the form will that bottom, this meeting give rise to any statement. Behind the scenes, four characters play a major role in the development of the counter-offensive to the crisis: Xavier Musca, the Adviser of Nicolas Sarkozy, Jean - David Levitte, his sherpa, Emmanuel Moulin, Counsellor in the Elysee Palace, and Ramon Fernandez, Director of the Treasury. Heir to the trio put in place two years ago during the fall of Lehman Brothers, this Quartet is the liaison between the Elysee, Bercy and Brussels. Nicolas Sarkozy is informed of the evolution of the situation minute by minute. Matignon seems, on the other hand, a little indentation in a fairly explicit sharing of roles: Nicolas Sarkozy focuses on international, François Fillon, on budgetary savings.

21 hours. A crisis meeting is held in the German Chancellery. The question of the constitutionality of European intervention is particularly discussed. Between 9 p.m. and 2 a.m. in the morning, two long session interruptions during the Ecofin will allow participants to consult their Governments for one another, their experts and those of the Council for the other. Christine Lagarde juggles so between negotiations and telephone conversations, including with its partners in the G7. Very quickly, an agreement comes on the amount of European aid, EUR 500 billion, but it will take still more than seven hours of negotiations to establish the conditions.

Monday, may 10: the denouement

2 hours. Fortunately, a deadline is necessary in all: Europe must reach an agreement before the opening of the Tokyo Stock Exchange at 2 a.m., Belgian time. The General Secretariat of the Council probably did not anticipate a long meeting. No dinner has been commissioned and sandwiches discourage more hungry. But the key to the compromise was finally found: stabilization fund endettera itself with the security of States. At 2 p.m., relieved, Xavier Musca, remained in Paris, begins to regain contact with journalists who have sought to join him in the evening... in any case those who are not lying!

4 hours. Ultimate test for Christine Lagarde before meeting journalists and return to Paris: she speaks for nearly an hour by telephone with participants in the G7. It was only shortly before 4 hours that it can finally let break his relief