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But for the eurozone countries, it has been launched as a proposal for all eurozone countries, by Merkel, in January:

An Economic Government for the Euro Zone? Merkel's Plan Could Transform the European Union - SPIEGEL ONLINE - News - International

Fast-Tracking Measures

In order to achieve these objectives as quickly as possible, Merkel is seeking support for an immediate program "that will be implemented on the national level within 12 months" (see graphic). This would entail the member countries adapting "the retirement age to demographic trends" and introducing financial policy rules that are modeled after Germany's so-called debt brake (an amendment to Germany's constitution that requires the government to virtually eliminate the structural deficit by 2016). Furthermore, within one year the countries would have to mutually recognize each other's educational and professional qualifications, as well as introducing a standardized means of assessing corporate tax to avoid so-called tax dumping (i.e. when countries try to attract companies by having an artificially low tax rate).

My bold.

It does not absolve other euro country leaders from liking cuts anyway - or being idiots - but as far as I can see, introducing debt brakes in the eurozone originated with the German government.

Sweden's finest (and perhaps only) collaborative, leftist e-newspaper Synapze.se

by A swedish kind of death on Thu Sep 8th, 2011 at 04:15:28 AM EST
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