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CIO: Merkel and Sarkozy's 'Empty Words'

Wednesday, 17 Aug 2011 | 2:00 AM ET

"Everything (Merkel and Sarkozy) talked about has been in place since 1999. This is a play for the gallery to buy more time," Steen Jakobsen, chief investment officer at Saxo Bank, told CNBC in a discussion on the meeting between the French and German leaders on Tuesday.