Beware the Merkozy Recipe; The EU Summit  

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Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 401 no. 8763 (Dec. 2011), page 16-18.
Topik: International Relations; Summit Conferences; Politics; Economic Crisis; Economic Policy
Fulltext: Beware the Merkozy Recipe.pdf (37.38KB)

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.69 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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When the history books are written, will December 8th-9th be seen as a turning-point in the euro crisis? That is when Europe's leaders were due to meet for the latest in a string of much-ballyhooed summits at which they repeatedly promise big reforms to their rules to save the single currency. As The Economist went to press, the focus of this summit was already clear, thanks to a deal on December 5th between the two people who matter most: the German chancellor, Angela Merkel, and the French president, Nicolas Sarkozy. It will be all about tightening the euro's fiscal rules. The "Merkozy" duo have decreed that the priority should be a march towards greater fiscal discipline, to be enforced by strong referees. Yet such a priority is dangerously lopsided. If the euro is to survive, Europe needs a more balanced plan to build the fiscal and financial integration that matches today's monetary union. Finding ways to police governments and prevent fiscal profligacy is part of that. But it is only part; it is not the most important component; and, on its own, it is unlikely to work.

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