The strongest medicine European leaders have come up with to cure what ails the euro zone is going to make the patient much worse off, if not kill him outright. European leaders are calling for adding a fiscal union to the monetary one. Germany’s foreign minister Guido Westerwelle called for “automatic sanctions when (budget) stability rules are broken.” France and Germany are backing measures that would send violators of European Central Bank policies to the European Court of Justice. And Germany is promoting a policy that would give the European Commission the power to veto budgets of member states.
Read the rest at The National Interest.
Comments