Two-speed Europe endangers euro

A two-speed Europe such as being pushed for by French President Nicholas Sarkozy threatens the unity of the Eurozone, the left-liberal business paper Cinco Días warns: "Much to the disgust of the European institutions Germany and France are working on a legal framework that would allow for the much talked of two-speed Europe and would permit those countries that want to move towards deeper integration of their economic, financial and labour policies. This initiative seems inevitable in a Union that can no longer allow itself to be paralysed by decisions taken in the Finnish or Slovakian parliaments, as happened recently. But this project of Angela Merkel and Nicolas Sarkozy poses a huge risk to the unity of the Eurozone and the other EU countries around it. A split would damage not just the weaker economies but the region as a whole. If the project is supposed to be a warning from Berlin to the countries lagging behind Brussels must ensure that this warning doesn't turn into a threat to the survival of the euro when the goal is supposedly to strengthen it."

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