Before EU summit: crisis meeting between Angela Merkel and Francois Hollande, four summit of finance ministers
German Economic News | Published: 26/06/12, 12:17 pm |
Updated: 06/26/12, 12:42 pm | 15 Comments
On Tuesday evening, the French finance minister wants to meet with his counterparts from Germany, Spain and Italy. The differences with Germany are too large, as they would promise a successful EU summit. In addition, Angela Merkel meet on Wednesday with Francois Hollande. While the Chancellor issued a denial € bonds, the four presidents of the EU continue to rely on them.
It promises to be one of those many special summit to be, which ultimately will support any far-reaching changes to light. Even before the summit, the battle lines have hardened. While Angela Merkel once again makes clear that the EU plans "economically wrong and counterproductive" keeps working, the four presidents of the EU - Barroso, Van Rompuy, Draghi and Juncker - already at a lower pooling the euro zone ahead of the summit. The outwardly shown hardness of the Chancellor and the Federal Government shows how big are the differences between Germany and the United States part of the €.
Eigentlich müssten Angela Merkel und Francois Hollande gemeinsam die Probleme der Schuldenkrise bekämpfen, um die Märkte zu überzeugen.
In order to evacuate before the EU summit a few points of contention perhaps out of the way or at least to reduce the differences that will meet the French finance minister, Pierre Moscovici, now short on Tuesday evening with Wolfgang Schäuble and his counterparts from Spain and Italy in Paris. The EU Monetary Affairs Commissioner Olli Rehn is also expected. "We are in an active phase of preparation for this summit," Pierre Moscovici said in an interview with France Info radio. At present the question of the pressure, the financial markets a plausible solution to the debt crisis, he replied: "We want to work with Germany." "Tomorrow there is a meeting between Francois Hollande and Angela Merkel, it will be very important."
As the proposal that have prepared the four EU president for the summit, shows, put them in the medium to a pooling of debt. "Steps to the introduction of the pooling of national debt could be considered, as long as a sound framework for fiscal discipline and competitiveness is there," says the paper. The four presidents make it again € bonds and a common debt funds this week. Also calls for a bank to grant Union and the bailout directly to the national banks are provided in the plan (more here ).
The German Chancellor, however, does not want to engage in a pooling of debt and even took advantage of the annual conference of the Council for Sustainable Development, to its position again to make it clear. "Euro bonds, Euro Bills, a European deposit insurance with shared responsibility and a lot more" were "economically wrong and counterproductive," said Angela Merkel (more here ). We must "eliminate the deficiencies that have arisen with the establishment of the Economic and Monetary Union 20 years ago, and it must be accountability and control are in equilibrium."
German Economic News | Published: 26/06/12, 12:17 pm |
Updated: 06/26/12, 12:42 pm | 15 Comments
On Tuesday evening, the French finance minister wants to meet with his counterparts from Germany, Spain and Italy. The differences with Germany are too large, as they would promise a successful EU summit. In addition, Angela Merkel meet on Wednesday with Francois Hollande. While the Chancellor issued a denial € bonds, the four presidents of the EU continue to rely on them.
It promises to be one of those many special summit to be, which ultimately will support any far-reaching changes to light. Even before the summit, the battle lines have hardened. While Angela Merkel once again makes clear that the EU plans "economically wrong and counterproductive" keeps working, the four presidents of the EU - Barroso, Van Rompuy, Draghi and Juncker - already at a lower pooling the euro zone ahead of the summit. The outwardly shown hardness of the Chancellor and the Federal Government shows how big are the differences between Germany and the United States part of the €.
Eigentlich müssten Angela Merkel und Francois Hollande gemeinsam die Probleme der Schuldenkrise bekämpfen, um die Märkte zu überzeugen.
In order to evacuate before the EU summit a few points of contention perhaps out of the way or at least to reduce the differences that will meet the French finance minister, Pierre Moscovici, now short on Tuesday evening with Wolfgang Schäuble and his counterparts from Spain and Italy in Paris. The EU Monetary Affairs Commissioner Olli Rehn is also expected. "We are in an active phase of preparation for this summit," Pierre Moscovici said in an interview with France Info radio. At present the question of the pressure, the financial markets a plausible solution to the debt crisis, he replied: "We want to work with Germany." "Tomorrow there is a meeting between Francois Hollande and Angela Merkel, it will be very important."
As the proposal that have prepared the four EU president for the summit, shows, put them in the medium to a pooling of debt. "Steps to the introduction of the pooling of national debt could be considered, as long as a sound framework for fiscal discipline and competitiveness is there," says the paper. The four presidents make it again € bonds and a common debt funds this week. Also calls for a bank to grant Union and the bailout directly to the national banks are provided in the plan (more here ).
The German Chancellor, however, does not want to engage in a pooling of debt and even took advantage of the annual conference of the Council for Sustainable Development, to its position again to make it clear. "Euro bonds, Euro Bills, a European deposit insurance with shared responsibility and a lot more" were "economically wrong and counterproductive," said Angela Merkel (more here ). We must "eliminate the deficiencies that have arisen with the establishment of the Economic and Monetary Union 20 years ago, and it must be accountability and control are in equilibrium."