He is known to admire aspects of Britain's economic system, notably its flexible labour markets - a model rejected by many on the French left.

BBC: NEWS | Europe | Sarkozy hails 'pragmatic' Blair

She also said that Germany's "social market economy" could serve as a model for a future international financial system in which governments guarded both the "social and economic order" and proposed the creation of a U.N. economic council modeled on the Security Council.

CNN: Merkel warns U.S. over auto bailout

While the merger will have to overcome several political obstacles, it is a sign that the Greek banking system begins to respond to the economic crisis, and a vote of confidence by foreign investors that can become the model for other Greek and European banks.

FORBES: Bank merger lights up Athens Exchange, up 16 percent!