EU pact proposals will ‘not end this crisis’

Germany and France were pushing for the wrong solution to the eurozone economic crisis by demanding a 'pact for competitiveness', said Germany’s opposition Social Democrats in March 2011.

The Franco-German initiative also cames in for criticism from Romano Prodi and Jacques Delors, two former European Commission Presidents. Writing in the Financial Times, they warned that the 'Pact for competitiveness' would be ineffective.

ESO: Background information: EU presidents draft competitiveness pact http://www.europeansources.info/record/eu-presidents-draft-competitiveness-pact/

ESO: Background information: Eurozone summit looms amid growing hostility to Franco-German pact http://www.europeansources.info/record/eurozone-summit-looms-amid-growing-hostility-to-franco-german-pact/

---