More control over the Eurozone

The leaders of the Eurozone countries are convening today for a special summit in Brussels. They hope to arrive at some conclusions about Greece's financial crisis. But they should stop giving the 'irrational financial markets' the blame, writes the daily De Standaard: "The only good answer the European leaders can give could have been predicted ten years ago when the euro was introduced. The euro needs an authority that ensures that everyone sticks to the agreements and which if necessary has the power to intervene in good time. ... Whatever the future brings, discipline must be the basis of monetary policy. And discipline is not a question of trust but of control and supervision. This would also apply to a monetary union without Greece or after a division between North and South. Without Germany a European currency would be unthinkable. But no matter which union, Greece will be among the members. Only a union that can control the tensions between the weak and the strong can survive. The union we have now is not such a union."

» full article (external link, Dutch)
More from the press review on the subject » Fiscal Policy, » Greece, » Europe
All available articles from » Bart Sturtewagen

» To the complete press review of Friday, May 7, 2010