It’s Merkel vs. everyone else at troubled Europe summit

[marmar]

BRUSSELS — Economic growth was the mantra Thursday as European leaders gathered to sign off on measures to boost it around the continent. Yet expectations of a breakthrough on the explosive issue of pooling European debt have fallen by the wayside.

European Commissioner for Economic Affairs Olli Rehn told reporters he expected leaders would agree on new growth measures for Europe, as well as taking some kind of action to reduce borrowing rates for Spain and Italy, which are approaching unmanageable levels.

“I expect that there will be a decision on a further step toward rebuilding the economic and monetary union,” he said shortly before the summit was to start. “We also need concrete decisions on a short term stabilization of financial markets, especially sovereign debt markets.”

German Chancellor Angela Merkel, who has resolutely opposed the issuing of mutual debt — known as Eurobonds — is the woman to watch, fear or confront at the two-day summit. .................(more)

The complete piece is at: http://www.thestar.com/business/article/1218409--it-s-merkel-vs-everyone-else-at-troubled-eu-summit

[dkf]

1. Everyone else wants the Germans to pay for everything.

They are Europe's version of the 1%.

[badtoworse]

2. Excellent analogy.

[marmar]

3. Empty Jingoism.

nt

[dkf]

4. How so?