BIRTH OF THE EUROZONE TREATY

The midwives of the EUROZONE, Chancellor Angela Merkel of Germany and President Nicolas Sarkozy of France, affectionately known as Merkozy, will certainly announce the imminent birth of the EUROZONE this week.

With the benefit of the experience of the flawed Treaty of Lisbon, they will certainly avoid the adoption of most of the potholes in that treaty.  The new EUROZONE TREATY could become an example of how, and what, to revise in the EU treaty of  Lisbon in the next two years.

The EUROZONE TREATY will be less extensive than the Lisbon Treaty of the EU.  It will be necessarily more concentrated on money aspects of the EURO and the organization required.

Will it not need its own parliament ?  Will that not mean fewer but more specialized, elected Eurozone MEPs ?  Should official EU observers not have the right to attend certain meetings ? 

Europe should not miss this opportunity to put its house in order in the light of the new EUROZONE treaty when this is ready. That means redrafting the LISBON TREATY.