September 16, 2003
Euro-Cohesion Watch Alan Cowell espies
Euro-Cohesion Watch
Alan Cowell espies three Euro "castes."
And see too this informative Economist piece:
Money graf:
"The “heart” of Europe this last week was the Italian lakeside town of Stresa, where some of the euro’s smaller members berated France for violating the unpopular stability and growth pact, which sets a limit of 3% of GDP for budget deficits. Both Germany and France are in breach of the pact. But it is the defiance in France’s public attitude as much as the deficit in its public accounts which draws the ire of countries, such as the Netherlands and Austria, which tend to respect the EU treaties they sign. If the Stresa get-together is any indication, the fate of the euro area’s smaller members is to keep up the appearance of solidarity and equality among euro members, while the big economies, such as France and Germany, bend the rules to suit themselves. If this is the “centre” of Europe, no wonder Sweden prefers to remain out on the edge."
Oh, and shouldn't Romani Prodi be staying awake during these troubled times at European Commission meetings? (subscription required)
Posted by Gregory at September 16, 2003 10:33 AM
