Friday 27 January 2012

Editor's Choice

Merkel is correct about Eurozone reforms – But which reforms?

In her speech at the World Economic Forum in Davos, German Chancellor Angela Merkel said among others the following (from euronews):

Do we want coherence without ambition? If we do, we will meet somewhere in the middle. Or do we want to see who is best and try to do like the best in Europe, so we have a chance to play a role on the world markets?
Merkel points out a reality that sooner or later the European Union will have to face. Indeed reforms are necessary if the EU is to overcome the crisis and have an important role to play on the world economy, in the decades ahead. Any objective European citizen, regardless of ideology knows, at least unconsciously, that the current EU architecture is unsustainable over the medium to long term. As such the ongoing crisis is perhaps a unique opportunity to push for all those necessary structural reforms.  

 

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