
Angela Merkel in Berlin on Monday.Keywords: Stability Pact, GERMANY, FRANCE, GREECE, Merkel, Lagarde.
Angela Merkel wants to amend the treaties to impose more financial discipline. And impose a European rating agency. France has agreed on principles but not on detailed measures.
Ready to shoot as quickly as possible "lessons" of the crisis, Paris and Berlin have shown, on Monday their intention to reform the Stability Pact, which has strated its total ineffectiveness in Greek crisis. This text requires member states to limit deficits to 3% of GDP and debt to 60% of GDP. Today, Greece has a deficit of 14% of GDP and a debt exceeding 130% of GDP. "We must change the pact so it can not be circumvented," Angela Merkel called Monday after getting the green light from his government plan to help Greece, which will amount to Berlin , to 22.4 billion euros over three years.
Remove the voting rights:
To sell the bailout very costly to an opinion and recalcitrant MPs, the Chancellor says she will propose to his European partners on "a treaty amendment" to tighten sanctions against states that do not comply fiscal discipline. Three days before a summit of Heads of State and Government of the eurozone, which will focus on Greece, Brussels, Angela Merkel also discussed the creation of a European rating agency, for "more competition in that area can not hurt. " Berlin also wants "more regulation on financial markets."
Agreed to change EU rules, even the hardened, Paris, Berlin diverge, however, on details, or priorities. In an interview with WorldMonday, Christine Lagarde acknowledges the need to reform the Stability Pact, but it includes "a review of the competitiveness and stability ncière fina," and does not mention the treaty amendment.
While Berlin wants to impose new sanctions on poor students up to the abolition of voting rights in the Council of EU ministers in Paris is more flexible. "We must act more effectively in case of runaway debt, deficits, or competitiveness," said French Minister of Economy, which suggests "the establishment of mechanisms for prevention and warning system that allows detect earlier the fact that payscommence out nails. In the "lessons" of the crisis, France also mentioned the need to "reduce the economic gap" between countries, a topic that irritates Germany.
The Netherlands, Greece that will help up to 4.8 billion euros have also, shown on Monday, they will "review the rules of the Stability and Growth", in a sense " strict.
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