AI
Tuesday, November 13, 2018 4:35:39 AM
Angela Merkel dashes Emmanuel Macron’s eurozone dreams
"Germany won’t spare Greek pain – it has an interest in breaking us"
I'm guessing Merkel and Macron basically put this and other differences aside during the Armistice events. Trump on the other hand had
to indulge in more than a few pump-the-chest moments. He must have decided that only the weather was going to be seen to beat him.
Germany won’t back anything resembling a full-fledged fiscal union, chancellor signals.
By Matthew Karnitschnig and Pierre Briançon
6/4/18, 6:56 AM CET
Updated 6/6/18, 9:10 PM CET
French President Emmanuel Macron’s only hope to salvage what remains of his eurozone vision is to focus on the few areas where Merkel shows a readiness
to move | Sascha Steinbach/EPA
In the end, Emmanuel Macron may wish he hadn’t bothered.
After more than eight months of waiting for Angela Merkel to respond to his proposals for reforming the eurozone — a progressive (if vague) vision aimed at bullet-proofing the single currency against another existential crisis — Macron received the answer in the form of an interview .. http://www.faz.net/aktuell/politik/inland/kanzlerin-angela-merkel-f-a-s-interview-europa-muss-handlungsfaehig-sein-15619721.html?premium .. with Frankfurter Allgemeine Sonntagszeitung, the Sunday bulletin of Germany’s establishment.
The gist: Berlin will put a little more money on the table and accept a bit more risk-sharing, but France and the rest of the eurozone can bury any lingering hope that Germany will pursue a great leap forward in eurozone integration by endorsing anything resembling a full-fledged fiscal union.
“Solidarity must never lead to a debt union, but must come in the form of help towards self-help,” Merkel told the newspaper.
That protestant prescription essentially cements the status quo at a time when many political observers are calling for a bold action in the eurozone in response to Italy’s new Euroskeptic government .. https://www.politico.eu/article/italy-populist-government-5stars-league-coalition-giuseppe-conte/ .. and other pressures.
----------
"In Berlin, Macron’s proposals were met with
a combination of skepticism and fear,
especially among Merkel’s conservative base.
----------
After the eurozone was caught flat-footed in its 10th year by the emergence of Greece’s debt crisis in 2009, forcing wealthy Germany to back a series of emergency bailouts to stave off the collapse of the euro, many economists argued the currency would remain exposed to such shocks as long as it wasn’t underpinned by a fiscal union.
To recap: When the euro was introduced, the European Central Bank took responsibility for setting the currency area’s monetary policy, but the power to tax, spend and invest remained firmly in the grip of national governments. In order to complement the ECB’s one-size-fits-all monetary policy and forestall another crisis, reformists argued the euro required more risk-sharing among member countries and pooling of financial resources to even out imbalances. Suggestions included eurozone-wide bank deposit insurance (to avoid bank runs) as well as a financial backstop to deal with failing banks. While there’s been headway on some of those fronts, Germany, together with a few other northern countries, remains wary of taking on too much risk for its neighbors.
More - https://www.politico.eu/article/an-offer-emmanuel-macron-cant-refuse-eurozone-budget-angela-merkel/
See also:
French election: Macron hailed as winner of bruising Le Pen TV debate
[...]
Le Pen wants a France with closed borders and to prioritise French people over foreigners for jobs, housing and benefits, to send illegal immigrants home, to turn away from the European Union and to abandon free-trade deals. She hopes to solve unemployment by blocking immigration and taxing companies who hire foreigners.
p - Macron wants to increase European Union cooperation and says France cannot escape the globalised world. He wants to loosen strict labour regulations and reform the eurozone with a common budget.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=131059974
'Times are changing, pay your taxes', euro zone chief tells corporations
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=125082563
Trump: A Lot Of People Think Ailes Will Run My Campaign
[...]
Donald Trump has claimed that the European Union was created to “beat the
United States when it comes to making money” in an interview with NBC News.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=124085729
When Donald Trump Needs a Loan, He Chooses Deutsche Bank
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=125513949
PegVA, Trump's Paris trip marked by missed moments -- and a dire warning
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=144814510
"Germany won’t spare Greek pain – it has an interest in breaking us"
I'm guessing Merkel and Macron basically put this and other differences aside during the Armistice events. Trump on the other hand had
to indulge in more than a few pump-the-chest moments. He must have decided that only the weather was going to be seen to beat him.
Germany won’t back anything resembling a full-fledged fiscal union, chancellor signals.
By Matthew Karnitschnig and Pierre Briançon
6/4/18, 6:56 AM CET
Updated 6/6/18, 9:10 PM CET
French President Emmanuel Macron’s only hope to salvage what remains of his eurozone vision is to focus on the few areas where Merkel shows a readiness
to move | Sascha Steinbach/EPA
In the end, Emmanuel Macron may wish he hadn’t bothered.
After more than eight months of waiting for Angela Merkel to respond to his proposals for reforming the eurozone — a progressive (if vague) vision aimed at bullet-proofing the single currency against another existential crisis — Macron received the answer in the form of an interview .. http://www.faz.net/aktuell/politik/inland/kanzlerin-angela-merkel-f-a-s-interview-europa-muss-handlungsfaehig-sein-15619721.html?premium .. with Frankfurter Allgemeine Sonntagszeitung, the Sunday bulletin of Germany’s establishment.
The gist: Berlin will put a little more money on the table and accept a bit more risk-sharing, but France and the rest of the eurozone can bury any lingering hope that Germany will pursue a great leap forward in eurozone integration by endorsing anything resembling a full-fledged fiscal union.
“Solidarity must never lead to a debt union, but must come in the form of help towards self-help,” Merkel told the newspaper.
That protestant prescription essentially cements the status quo at a time when many political observers are calling for a bold action in the eurozone in response to Italy’s new Euroskeptic government .. https://www.politico.eu/article/italy-populist-government-5stars-league-coalition-giuseppe-conte/ .. and other pressures.
----------
"In Berlin, Macron’s proposals were met with
a combination of skepticism and fear,
especially among Merkel’s conservative base.
----------
After the eurozone was caught flat-footed in its 10th year by the emergence of Greece’s debt crisis in 2009, forcing wealthy Germany to back a series of emergency bailouts to stave off the collapse of the euro, many economists argued the currency would remain exposed to such shocks as long as it wasn’t underpinned by a fiscal union.
To recap: When the euro was introduced, the European Central Bank took responsibility for setting the currency area’s monetary policy, but the power to tax, spend and invest remained firmly in the grip of national governments. In order to complement the ECB’s one-size-fits-all monetary policy and forestall another crisis, reformists argued the euro required more risk-sharing among member countries and pooling of financial resources to even out imbalances. Suggestions included eurozone-wide bank deposit insurance (to avoid bank runs) as well as a financial backstop to deal with failing banks. While there’s been headway on some of those fronts, Germany, together with a few other northern countries, remains wary of taking on too much risk for its neighbors.
More - https://www.politico.eu/article/an-offer-emmanuel-macron-cant-refuse-eurozone-budget-angela-merkel/
See also:
French election: Macron hailed as winner of bruising Le Pen TV debate
[...]
Le Pen wants a France with closed borders and to prioritise French people over foreigners for jobs, housing and benefits, to send illegal immigrants home, to turn away from the European Union and to abandon free-trade deals. She hopes to solve unemployment by blocking immigration and taxing companies who hire foreigners.
p - Macron wants to increase European Union cooperation and says France cannot escape the globalised world. He wants to loosen strict labour regulations and reform the eurozone with a common budget.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=131059974
'Times are changing, pay your taxes', euro zone chief tells corporations
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=125082563
Trump: A Lot Of People Think Ailes Will Run My Campaign
[...]
Donald Trump has claimed that the European Union was created to “beat the
United States when it comes to making money” in an interview with NBC News.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=124085729
When Donald Trump Needs a Loan, He Chooses Deutsche Bank
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=125513949
PegVA, Trump's Paris trip marked by missed moments -- and a dire warning
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=144814510
It was Plato who said, “He, O men, is the wisest, who like Socrates, knows that his wisdom is in truth worth nothing”
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