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Euro Last Chance? ‘Mer-Kozy’ race against downgrade

Russia Today [1]
Wednesday, December 7, 2011

The Eurozone is facing immense pressure to come up with a decisive rescue plan to its worst-ever debt crisis. A summit in Brussels later this week is considered the last chance for the Euro. EU leaders are expected to pore over the French and German leaders idea to revise the Lisbon Treaty – the 2009 agreement which reorganised how the entire EU works. President Sarkozee and Chancellor Merkel want tighter eurozone controls, and the power to impose cuts on bailed-out members. Greece, at the epicentre of the crisis, has just approved next year’s austerity measures. But as Yegor Piskunov reports, for some it’s too little too late.