| Author (Person) | Carnegy, Hugh |
|---|---|
| Series Title | Financial Times |
| Series Details | 25.11.11 |
| Publication Date | 25/11/2011 |
| Content Type | News |
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Report of a mini-summit meeting between German Chancellor Angela Merkel, French President Nicolas Sarkozy and the new Italian Prime Minister Mario Monti in Strasbourg, 24 November 2011 to discuss the eurozone debt crisis. They made tougher fiscal governance a top priority in their battle to stem the sovereign debt crisis but offered no immediate concessions to calls for intervention by the European Central Bank. It is said that Mrs Merkel has set her heart to drive the 17 European partners that share the euro as a common currency towards a fiscal union. This would entail ever closer co-ordination, and direct supervision, of national economic and budgetary policies in the eurozone. She also wants debt and deficit limits enforceable in the European Court of Justice. And she wants a European Commissioner who will be a sort of super-finance minister, with powers to demand changes in national budgets if they break the rules, and to impose automatic penalties if they do not fall in line. |
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| Subject Categories | Economic and Financial Affairs |
| Countries / Regions | Europe, France, Germany, Italy |
