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View Full Version : A New Eurozone Government?




Pauls' Revere
08-16-2011, 09:52 PM
http://finance.yahoo.com/news/Merkel-Sarkozy-propose-apf-3860572769.html?x=0&sec=topStories&pos=1&asset=&ccode=

Sarkozy called for a "new economic government" for Europe that would meet at least twice a year with European Union President Herman Van Rompuy as its head, but he offered few other details or indications that the body would have real power.

Merkel and Sarkozy also called for all eurozone nations to enact constitutional amendments requiring balanced budgets. They said they want the process completed by the summer of 2012, but it would almost certainly run into protracted political difficulties in many countries.

Both leaders said the moment was not right to replace 17 government bonds with a single one allowing weaker economies to borrow in cooperation with the powerhouse economies of France and Germany. A growing number of experts are calling for the eurobond as a way to prevent the unaffordable interest rates that have driven Greece, Ireland, and Portugal to seek bailouts from the eurozone countries and the International Monetary Fund

wonder if we'll see Europe as one country soon?