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Germany, France push for ‘fiscal union’
Posted By admin On December 2, 2011 @ 9:41 am In Featured Stories,Tile | Comments Disabled
December 2, 2011
German Chancellor Angela Merkel kicked off a crunch week of talks on saving the euro by laying out a vision Friday for a “fiscal union” in Europe, ahead of a pivotal summit of EU leaders.
A day after French President Nicolas Sarkozy said that Europe needed to be “refounded” in response to a crisis that has threatened the very existence of the EU, Merkel insisted that progress had been made.
Speaking in a hotly awaited speech in the German parliament, Merkel said Europe was “on the verge” of creating what she called a “stability union” for the 17-nation eurozone, with greater budgetary discipline and control.
“Anyone who had said a few months ago that we, at the end of 2011, would be taking very serious and concrete steps toward a European stability union, a European fiscal union, toward introducing (budgetary) intervention in Europe would have been considered crazy,” she said.
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 AFP: http://www.rawstory.com/rs/2011/12/02/germany-france-push-for-fiscal-union/
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