Sarkozy wants to turn the ESFS into a bank funded by tax payers.
Merkel wants to make the ESFS an insurance fund
In layman’s terms Sarkozy wants a toilet where banks can dump their crap and where European savers pay for privilege of receiving this excrement from the banks
Merkel is happy for the banks to go under and wants a fund that will help people who have been burned by bank collapses.
One solution sounds fair and reasonable, the other solution sounds like fascism. Capitalism for the middle and working class and Socialism for the super rich
With Merkel’s solution the people who are doing the funding are the people who will receive the benefits of the fund.
With Sarkozy’s solution the population pay in cash and the international banking cartel are the only ones who get the benefit.
Merkel’s solution ignores the too big to fail and let’s them fail, Sarkozy wants to maintain the status quo and keep the incompetent bankers in power