Engdahl: Merkel and Sarkozy plan a Soviet throwback

Global markets have taken a nose dive, after the leaders of the EU’s strongest economies failed to calm fears of a deepening crisis. Angela Merkel and Nickola Sarkozy called for the creation of a central economic body which would ensure Eurozone members take more financial responsibility. But they brushed aside suggestions of expanding the EU bailout fund, or releasing Eurobonds to help keep the single currency afloat. RT talks to political analyst and author F. William Engdahl.