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This looks to me more like electioneering by Merkozy, and perhaps a bit of a trial balloon.
I have my doubts they really believe they can make it stick when there are so many Eurozone countries with serious anti-EU sentiment.
Germany already has this cyanide pill in its constitution. If Merkozy can browbeat the PS into acceding to a French version, then together they have a viable power bloc. Remember, they're going to be bullying individual member states, not impose new EU policies, so resistance by a single member will not in itself suffice to prevent this abomination from going ahead everywhere else. And given the total absence of any viable opposition anywhere...
Austerity can only be implemented in the shadow of a concentration camp.
Then they can wait until Sarkozy gets his pack of directorships. And by then, Merkel may be too busy dealing with a German economic pancake landing to find the time.
It still looks more like a negotiating position to me. It's not impossible they can make it stick, but it's really not going to be easy. And neither of them seems like the kind of pol who has the relentless determination it's going to need.
Don't forget Sarko is the runty little prince of press release politics - big on the big scheme announcements, reliably useless on the practical follow-through.
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