France’s euro zone plans to crack down on Germany’s speed bumps.

0
209

The euro zone’s reforms, the European powers France and Germany, may have some sudden roadblocks.
On Monday, eurozone finance ministers gathered in Brussels to discuss further measures to prepare for next week’s eu summit.
But the new German government needs time to settle, and complex projects such as the European banking union require extensive negotiations.
Still, French finance minister Bruno le maier said the urgency was crucial.
Given the political situation in some European countries and the increased risk of a global trade war, he can only reach one conclusion: speed up!
However, LeMaire’s sense of urgency is not necessarily Shared by his peers.
The Dutch finance minister, Wopke Hoekstra, said eight Nordic countries refused to share more of the risk before member states reduced their national debt.
“This is about conditional, first of all should reduce risk, second is risk sharing, other events are crucial”.

His views seem increasingly important after the Italian elections.
According to Daniel gross, director of the European centre for policy research (CEPS), a brussels-based think-tank, the rise of the populists could complicate future reforms.
“One of the key problem is that even if Paris to put together the risk also has some questions, because Italy now has shown that it can be a country, a great power, it could eventually don’t follow the rules of a political party, and reform in the euro area have had to downsize” in Berlin and Paris.
Experts say any meaningful eurozone reform is unlikely to be seen by 2019, the year before the next European elections.

LEAVE A REPLY

Please enter your comment!
Please enter your name here