The 27 country EU has survived, but it will be joined by a 17 country EUROZONE which will be fast-tracked !!! Forcepts will probably be needed to ensure a quick birth early next year !!!
The urgency of the EURO crisis means that all avenues like the IMF have already been explored.
Simply said, Angela Merkel wants a fiscal union and she wants to impose bugetary controls, what she and the Germans call the "Golden Rule". This in turn means "Do not infringe the current limit of over-expenditure".
Teutonic thinking does not accept the more relaxed attitudes in the Latin mentality of countries like France and Italy, and others.....
Nicolas Sarkozy wants the Euro to be saved at all costs. Angela Merkel is in agreement but wants to protect German productivity She does not want Germany to have to pay the bill of all the costs if the EURO "goes under", i.e. becomes bankrupt as may be the case with certain countries at the present moment.
So the real question is, who will cede, or concede ?
We must wait !!! That is the battle !!! Without concessions from either side there will be a stale-mate chess situation !!!
Next week perhaps, we will know more and we may be able to discuss the problems connected with the establishment of a EUROZONE organisation and the effects on the current EU Treaty !!!
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