Merkozy´s letter to "president" van Rompuy is now public and discussed by various pundits. My only comment relates to the the paragraph in the latter that is called "A strengthened institutional architecture".
• Regular summits – at least twice a year - of the Euro area heads of State and Government with a permanent president. These summits will provide strategic orientations on the economic and fiscal policies in the euro area. The impact of our domestic economic and fiscal policies on the euro area should be considered as a matter of common interest, while safeguarding national responsibility.
That means that the European Union (or at least the eurozone) will have yet another permanent president (presumably with a huge staff to assist him - and maybe also a new building to house it). What a wonderfully creative and totally unexpected solution! Although I am not certain that haiku Herman and his colleague, the former maoist Barroso will be thrilled by the prospect of yet another rival arriving on the scene.