Skip to comments.From Merkozy to Merkonti after the French poll?
Posted on 05/05/2012 1:42:09 AM PDT by Olog-hai
If François Hollande wins the French presidential elections on Sunday, Italy can help forge a rebalancing of the Franco-German couple, especially after Angela Merkel yesterday (3 May) said Europe needs political courage and creativity rather than billions of euro, reports EurActiv Italy.
It is important that we break with the idea that growth always costs a lot of money and must be the result of expensive stimulus programs, Merkel said in an interview due to be published on Wednesday in Hamburgs Abendblatt newspaper.
She added that the eurozones recovery would depend on rebuilding national finances as well as structural reforms of the job markets and education.
Hollande has promised to turn Europes fiscal pact, which focuses on debt discipline, into a growth pact. By his own calculations, these policies will cost an extra 20 billion over five years.
This week, the Wall Street Journal headlined a blog with the suggestion that Monti is likely to become Merkels next (Roman) lover. The thesis is that if Sarkozy loses the election, the long and fruitful Franco-German-led Europe would be destined to end, or at least go through a phase of adjustment. In this case, the WSJ says, Rome is ready to replace Paris.
In reality, this is something more than just journalistic speculation. In recent months, Monti and his government have built an alliance system based on variable geometry. This term was coined by Italian cohesion Minister Fabrizio Barca. It describes a policy that has been credited with bringing Italy back into the heart of the European gamesmanship and helping to keep Great Britain on board, after its rejection of the Fiscal compact.
(Excerpt) Read more at euractiv.com ...
I’m thinking that Sark will pull it out...
Thank for the many interesting Euro articles.
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