CIO: Merkel and Sarkozy's 'Empty Words'

2:00 AM ET Wed, 17 Aug 2011

"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.