Skip to comments.Spain and Italy criticize Berlin plan for EU to police budgets
Posted on 10/30/2012 9:56:08 PM PDT by Olog-hai
Fresh tensions emerged between Germany and southern Europe as Spain and Italy criticized Berlins proposals for a European Union super commissioner with powers to police national budgets and punish those with large deficits.
This is an idea, that considered on its own, I personally dont like, said Spanish prime minister Mariano Rajoy after meeting his Italian counterpart Mario Monti in Madrid.
Monti claimed not to have read a Der Spiegel interview in which European Central Bank (ECB) president Mario Draghi threw his weight behind the super-commissioner idea, but nevertheless recalled that, in 2003, Germany has been one of the first countries to break EU deficit rules. It doesnt sound very good, he added. Markets could take this as a sign that current instruments do not work.
(Excerpt) Read more at guardian.co.uk ...
“The provinces are upset, your highness”