In this Macro View video, Steen Jakobsen, Chief Economist, Saxo Bank discusses with Yvette Roper, Editor and Community Manager of TradingFloor.com the main themes of the March EU Summit and comments on those which continue to haunt the Eurozone and investor sentiment. The need to agree on the size of a firewall to ensure adequate ring-fencing of the European debt crisis is one overriding concern. There is mounting pressure on Germany's Chancellor Merkel to side with solidarity and protect the Euro by writing a big enough cheque to fund bailouts, says Steen. He also gives his assessment of the European Central Bank's second Long-Term Refinancing Operation and its risk-off market impact if this really is the last easy money. And he touches on the risk to the fiscal compact process of Ireland's call for a referendum on the issue. Furthermore, he looks at how Greece is faring on its commitments.

For more comments by Steen Jakobsen see his blog Steen's Chronicle on TradingFloor.com