Since the outbreak of the crisis last year € haunts the term "economic government" by the EU. but now wants to Angela Merkel tacks and enforce their version - Everyone understands something else in below. The aim of the € be restored permanently.
A government in the accepted sense of the planned EU economic government is not - rather a system of mutual obligations of the euro countries. Another bureaucratic Monster in the form of a new office in Brussels will not - except for the EU Commission, which could expand their power through this. And no country will naturally give up its financial and economic sovereignty. But all is clear: the euro suffers from the fact that the economy does have a single monetary policy, but in economic policy at present that everyone does as he pleases. Of a coordinated approach is rare to see something.
And that has contributed to excesses such as Greece or Ireland and sent the euro for a time in the cellar. Chancellor Merkel called her so closely with France's President Sarkozy coordinated project "Pact for Competitiveness." At today's summit will be discussed and planned for adoption in March.
The six points are to align the economic policy. - But other than it wants Barroso, not at a low competitive level ( (read the article my colleague, Gisela Baur) Rather, the bar is set so high that the deficit sinners achieve gradually the competitiveness of Germany, France and Co.. This is the inflation-and cost-promoting automatic adjustment accounts for the wages to the price increase, as is the case in some states of concern. In addition to the retirement age across the EU and the control systems be aligned. For it will not do that early retirement will be financed in some southerners or the mini-tax in Ireland more or less of the strong states. Debt brakes as in Germany and emergency response for the banks to prevent future repetition of the financial and debt crises. And in addition to more investment driven by increased mobility of workers and the growth and fight unemployment.
The goals are so huge - and the EU to prevail only with a lot of pressure. But the build Merkel, because without a commitment to greater competitiveness of the weak Euro countries it is an extension and modification of the rescue hardly agree. Financial markets set, such as the recovery of the euro in recent weeks has shown high hopes for an economic government à la Merkel / Sarkozy. But only if they will soon meet and turn out the rules to inspire confidence to the investors can imagine an end to the EU malaise - and perceive the euro after such a clearance again as a "real" currency exchange rate and not as a hodgepodge.
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