German chancellor Angela Merkel and French President Nicolas Sarkozy proposed a "quick new stability pact" that allegedly will bypass the need for treaties. However, there is already disagreement over the role of the ECB.
Please consider Germany, France plan quick new Stability Pact
Please consider this humorous video of Margaret Thatcher's last House of Commons Speech on November 22, 1990. What Thatcher said then about the Euro, European politics, socialism and wealth creation makes as much sense today as it did then, when she made fools of the opposition in Parliament to much laughter from the conservatives.
BRUSSELS—European officials proposed an overhaul of euro-zone institutions that would create a common budget for the 17 nations using the common currency and, ultimately, grant powers to issue debt collectively ...
María J Nieto, Eugene N. White, 22 March 2013The euro cannot have a centralised monetary authority and decentralised bank supervision. This column draws on US banking history, detailing how a banking crisis in the nineteenth century led to the creation of dual systems of bank supervision. The US system was imperfect, and the central role and powers of the ECB within the Single Supervisory Mechanism will be to limit the weaknesses of a dual system of supervision. Despite this, hazards remain.
European officials on Wednesday proposed an overhaul of euro-zone institutions that would create a common budget for the 17 nations using the single currency and, ultimately, grant powers to issue debt collectively backed by the currency bloc.
Authored by Nicholas Spiro (Spiro Sovereign Strategy) and Nick Stamenkovic (RIA Capital Markets) via Bloomberg Briefs, With yields at record lows, it is all too easy to suggest that 'Europe is fixed' especially if you are a European leader, but that is not the case...