Europe Still Needs Careful Forward
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EU assistance on the establishment of a permanent mechanism for the euro zone reached a consensus, but the issue of euro bonds was not sufficient support along the way, Europe is still cautious.
If you think the European euro just to maintain the current system, you have no doubt that the Europeans underestimated the "ambition." Europe is doing most of human history called the Great initiative, the European elites hope to achieve reunification by peaceful means, the complete elimination of thousands of years has been shrouded in the shadow of war over Europe to complete the Frankish Empire and the Holy Roman Empire are unfinished business. Never had to do this continent.
From the "European steel alliance" to "the Treaty of Rome," the official Euro 2002 and then traded in Europe on the road of economic integration in the steady progress, but to promote political integration when the real problems began.
In 2005, the European Constitution failed in France and the Netherlands a heavy blow to the dream of European unity.
In the following few years, Europe has been hovering in the economic integration and political integration in the middle, which planted the seeds of the crisis, the problem is only the outbreak of the time.
In the current economic crisis, some euro-zone countries, the financial suffered heavy losses, the European sovereign debt crisis erupted, the European Union have jointly shot the International Monetary Fund rescue. Many people think that Europe's problem is that defects in the euro system itself, but the real problem is Europe's stuck in the middle of economic integration and political integration, long time.
As some people think that the euro single currency policy is not necessarily suitable for the economic situation of each Member States, in fact, this problem exists in every country, different, in that sovereign state, government can use fiscal means to Fu level differences.
Many times the crisis can be seen as an opportunity, the European round of the sovereign debt crisis can move forward momentum in Europe, Europe for the first time so clear that no political unity in the face of crisis, monetary integration is to bear blow. Sovereign debt crisis emerged in Europe European Financial Stability Fund (EFSF), the fund is fully converted into the euro zone may be the Ministry of Finance.
Euro group president, Juncker of Luxembourg, and Italy Finance Minister Giulio Tremonti earlier this month, the United States jointly issued an appeal for the euro area Euro sovereign bonds, the establishment known as "European Debt Agency," the body, it looks like the euro area financial prototype of the Ministry, if the proposal is accepted, it will be to the political integration of Europe a key step forward.
As the most important member of the euro zone, Germany does not agree with the euro bonds, German Chancellor Angela Merkel that the issue of sovereign bonds in the euro will play a stimulating, but also contrary to existing treaties with the EU.
Germany just do not want to fall into the debt crisis in other countries, when push Caizheng alliance, because at this time Caizheng League Biancheng For countries like Ireland, financial subsidies, and to do so the German government will face strong domestic political pressure. So the German opposition to the euro, while bonds have agreed to establish a unified euro rescue mechanism, this month also said German Finance Minister Schäuble, in the long run, Germany has agreed to issue the euro does not rule out the possibility of sovereign bonds.
Cautious and carefully selected German advance, and this is the current portrayal of Europe as a whole. But Europe needs to be careful that the euro is not a unified political conflicts are increasingly exposed, leaving the number of their time in the end, who do not know, the current situation is like riding a boat behind. |
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Author Resource:-
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By :
Jessie Stone
Submitted
2010-12-23 23:27:13 |
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