Brussels plans to bring eurozone to heel / Barroso warns fate of the euro at stake

Preview and reports of the launch by the European Commission on the 23 November 2011 of a new package of measures to deepen European Union and euro area economic governance ('New action for growth, governance and stability').

The package included: two co-decision regulations, on linking European Financial Stability Facility (EFSF)/ European Stability Mechanism (ESM) assistance with country surveillance and on further deepening of fiscal surveillance for euro area Member States with excessive deficits; a green paper on euro stability bonds; and the 2012 Annual Growth Survey.

EUObserver (link in related urls) said 'The European Commission has proposed perhaps the most radical shift in decision-making away from parliaments and toward unelected bodies in the history of the European Union.
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The far-reaching proposals instantly provoked accusations of a hollowing out of democracy in Europe - allegations that the Commission has angrily dismissed, saying the moves are necessary if the euro is to survive'.

EUObserver, 23.11.11: Brussels sees no serious opposition to eurobonds http://euobserver.com/19/114370

EurActiv, 24.11.11: Brussels seeks powers over eurozone budgets http://www.euractiv.com/euro-finance/barroso-sweeping-new-central-powers-necessary-save-euro-news-509169

European Commission: Speech/11/799: The Commission's initiative for growth, governance and stability http://europa.eu/rapid/pressReleasesAction.do?reference=SPEECH/11/799&format=HTML&aged=0&language=EN&guiLanguage=en

European Commission: Speech/11/797: Tax reforms needed for consolidation and growth http://europa.eu/rapid/pressReleasesAction.do?reference=SPEECH/11/797&format=HTML&aged=0&language=EN&guiLanguage=en

European Commission: Speech/11/796: Boosting job creation and addressing the social consequences of the crisis http://europa.eu/rapid/pressReleasesAction.do?reference=SPEECH/11/796&format=HTML&aged=0&language=EN&guiLanguage=en

European Commission: Speech/11/794: José Manuel Durão Barroso: Presentation of the 2012 Annual Growth Survey and economic governance proposals http://europa.eu/rapid/pressReleasesAction.do?reference=SPEECH/11/794&format=HTML&aged=0&language=EN&guiLanguage=en

El Mundo, 24.11.11: Only Eurobonds can save us (via PressEurop) http://www.presseurop.eu/en/content/article/1210481-only-eurobonds-can-save-us

Die Tageszeitung, 24.11.11: Merkel’s Nein is wrecking the EU (via PressEurop) http://www.presseurop.eu/en/content/article/1210121-merkel-s-nein-wrecking-eu

ESO: Background information: Commission proposes ‘eurobonds’ to calm markets http://www.europeansources.info/record/commission-proposes-eurobonds-to-calm-markets/

European Parliament: Press Release, 23.11.11: Eurobonds: MEPs voice reservations about Commission proposals : Eurobonds: MEPs voice reservations about Commission proposals http://www.europarl.europa.eu/en/pressroom/content/20111121IPR31952/html/Eurobonds-MEPs-voice-reservations-about-Commission-proposals

European Commission: Memo/11/822: Economic governance: Commission proposes two new Regulations to further strengthen budgetary surveillance in the euro area http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/11/822&format=HTML&aged=0&language=EN&guiLanguage=en

European Commission: Memo/11/821: The 2012 Annual Growth Survey: Frequently Asked Questions http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/11/821&format=HTML&aged=0&language=EN&guiLanguage=en

European Commission: Memo/11/820: European Commission Green Paper on the feasibility of introducing Stability Bonds http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/11/820&format=HTML&aged=0&language=EN&guiLanguage=en

Spiegel Online International, 24.11.11: Why Merkel Remains Opposed to Euro Bonds http://www.spiegel.de/international/europe/0,1518,799803,00.html

BBC News, 23.11.11: EU chief Barroso unveils controversial eurobonds plan http://www.bbc.co.uk/news/business-15854116

Deutsche Welle, 23.11.11: EU commission proposes eurobonds as crisis weapon http://www.dw-world.de/dw/article/0,,15550962,00.html

EUObserver, 23.11.11: Brussels pushes for radical shift in budget powers away from parliaments http://euobserver.com/19/114372

European Commission: RAPID: Press Release, IP/11/1381: New action for growth, governance and stability http://europa.eu/rapid/pressReleasesAction.do?reference=IP/11/1381&format=PDF&aged=0&language=EN&guiLanguage=en

European Commission: The Commissioners (2010-2014): President: News: 2011: New action for growth, governance and stability http://ec.europa.eu/commission_2010-2014/president/news/documents/2011/11/20111123_documents_1_en.htm

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