Freitag, 10. Februar 2012

Eurocrisis: Angie's Private Plan

 
Today's FT sports an interesting analysis regarding chancellor Merkel's politics to solve the Eurocrisis by Quentin Peel (p. 7 of the print edition). He states that Mrs Merkel has developed private plan since July 2011:
  • Member states must cede (some) power step by step to Europe
  • Binding budgetary rules: ceilings for borrowing and budget, spending priorities to ensure growth and competitiveness, coordination of taxes, probably jointly guaranteed eurobonds.
  • Direct election of the Commission president, to overcome the disconnection between national politics and the European parliament
  • Since she will face substantial resistance domestically and abroad (also by Germany's main ally France), she will move cautiously and only unveil the plan step by step
Will it work?

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