In the context that Mr Barroso, President of the European Commission, wants to consider whether the EUROZONE should "aid" Banks, in the same way as Greece has been "aided", the real question is whether a EUROZONE TREATY is already in place which would permit this ?
Alternatively the question is, which countries would be obliged to accept the costs of "saving" Banks or to cover losses by such Banks in the "Eurozone" ?
The EU Treaty exists !!! It is called the "Lisbon Treaty". It is not a good example of what should happen. It was "waived through" parliament in all the EU countries by politicians and was not voted on by electors in any country except Ireland !!!
Now EUROZONE leaders try to bend EU rules with interpretations that would give them unrestricted powers to do what they want in the name of the EUROZONE !!!
There is no "EUROZONE TREATY" !!! The "Eurozone" is just a club !!! Is it not therefore, dangerous, to permit politicians to run wild without a leash and commit taxpayers and electors to pay for the consequences ?
Banks are not Countries !!! The next article will highlight this !!!