As Europe’s largest and healthiest economy, Germany has the power to launch economic policies that can reshape the entire euro zone, or kill policies that it thinks would work against its interests.
On Monday, Germany rejected two policies that several smaller euro zone countries argued would help keep the euro intact during the greatest challenge to the common currency’s existence since its launch a dozen years ago.
Chancellor Angela Merkel said her country would neither support the enlargement of the emergency bailout fund for countries that are having trouble financing themselves, nor support the sale of bonds issued by the European Union instead of individual countries.
For more: Germany rejects debt crisis proposal - The Globe and Mail
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