BRUSSELS (Reuters) - It was billed as a summit to save the euro. It may be remembered as the day Europe lost patience with Britain, as most of the continent threw its lot in with EU founding members France and Germany and committed to binding their economies ever more tightly. ugg boots clearance There was plenty of talk of history in the making in the week before the Dec 8/9 gathering of European Union leaders - the eighth this year. But it was all bell ross power reserve replica about the currency and whether it would survive the strains of a debt crisis that over the past two years has engulfed Greece, watches rolex replica spread to Ireland, Portugal, Spain and Italy and now threatens France and even mighty Germany. cheap ugg boots clearance As the summit began, there was no hint of the drama that was breitling chrono avenger fake watches to come in the early hours of Friday, the moment when Europe split, 26 against one, after about 10 hours of talks. Britain has always had an uneasy relationship with its EU partners, choosing not to bertolucci pulchra on sale join the single currency or sign the open borders Schengen treaty and often kicking against what it sees as Brussels "interference." ugg boots outlet sale But this was a low point. The first time in 39 years that a British prime minister had used a veto to block an EU agreement. David Cameron cast it is a bold and necessary decision to protect British interests. Most of the rest of Europe appeared to regard it as reckless and went a different way. Hours later, when the leaders briefly reconvened to finish their discussions, Cameron cut a lonely figure. French President Nicolas Sarkozy appeared to avoid an extended hand as Cameron walked to his hamilton 936 replica seat.ugg boots clearance The build up to this last summit of the year had been much like the previous bvlgari rettangolo replica seven. The language had been recognisable too, even if market pressures had added an unprecedented degree of urgency to glacial EU decision making. Overnight borrowing from the European Central Bank hit its highest level since March at the start of December, showing the degree of tension amongst banks. PROFOUND CONCERN U.S. Treasury Secretary Timothy Geithner had spent several days in Europe before the summit. The United States, like all of Europe's trade partners, had been watching the accelerating debt crisis replica watches tag heuer monaco ls with profound concern, worried for their own economies and banks. ugg boots outlet clearance In meetings with the head of the ECB, Mario Draghi, and euro buy breguet reine de naples zone finance ministers the conversation was all about the two-year-old debt crisis and how to resolve it. The issues: the role of the ECB, how far should or would it stand behind countries to buy them breathing space, the scale of the euro zone's rescue fund, the part to be played by the IMF, and should the EU let private bondholders off the hook. Geithner spent time in Frankfurt, Berlin, Paris, Marseille and Milan. London didn't figure on his itinerary. During the same week, German Chancellor Angela Merkel and Sarkozy spoke frequently and met in person. There were contacts with Spain's incoming Prime Minister Mariano Rajoy. Draghi was closely involved in discussions at all stages, insiders say. Once more, Cameron was peripheral. replica a lange sohne datograph for sale ugg boots outlet clearance Immediately before the summit, the U.S. assessment of Europe's progress was, in broad terms, they know cheap elgin grade 156 what they need to do but they need to work out how they're going to do it. As one U.S. official put it, fixing the flaws of the 13-year-old single currency - a monetary union without coordinated budget policy - could not happen overnight. But the Europeans were moving closer to addressing the problem at its root. fake breitling chronomat That assessment captured well the mood in the hours heading into the latest in a long line of "crunch" summits.
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