Obviously, Germany is prolonguing the European crisis with the objective of softening the resistance to the giant leap forward in fiscal integration. After falling short with her "fiscal compact" on budget discipline, German Chancellor Angela Merkel is pressing for much more ambitious measures, including a central authority to manage euro area finances, and major new powers for the European Commission, European Parliament and European Court of Justice. She is also seeking a coordinated European approach to reforming labor markets, social security systems and tax policies, German officials say.
Until states agree to these steps and the unprecedented loss of sovereignty they involve, the officials say Berlin will refuse to consider other initiatives like joint euro zone bonds or a "banking union" with cross-border deposit guarantees - steps Berlin says could only come in a second wave.
As learned in the history class, Carolus Magnus stopped the Sarracen attack on civilization and started Europe's emergence from the post-Roman Empire chaos and progress towards the Middle Age.
As learned in the history class, Carolus Magnus stopped the Sarracen attack on civilization and started Europe's emergence from the post-Roman Empire chaos and progress towards the Middle Age.
5 comments:
You think the other countries will go for this proposal? Unlike Charlemagne, Angelamagne doesn't have much of an army.
There are proposals that cannot be rejected. Yet, with an army it would have been faster. Much faster.
Chancellor Angela Merkel is pressing for much more ambitious measures, including a central authority to manage euro area finances, and major new powers for the European Commission, European Parliament and European Court of Justice. She is also seeking a coordinated European approach to reforming labor markets, social security systems and tax policies, German officials say.
Is that all?
No, it is not ALL.
It is only an apéritif .
The other countries don't HAVE to buy into the German proposals - only if they want German money. It's a case of the golden rule - the fellow with the gold makes the rules. They are welcome to tell the Germans to go screw themselves, but then they will actually have to pay for their own mess.
What the Greeks, etc. would like is not to reform but for the Germans to keep sending them money anyway. And they would like a pony, too. Not gonna happen.
K
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