ABC.net: 12/01/12 - S. Das
Financially futile, economically erroneous, politically puzzling and socially irresponsible, the December 2011 European summit was a failure. Only the attending leaders and their acolytes believe otherwise. German Chancellor Angela Merkel's post-summit homilies about the "long run", "running a marathon" and "more Europe" rang hollow.
The proposed plan is fundamentally flawed. It made no attempt to tackle the real issues - the level of debt, how to reduce it, how to meet funding requirements or how to restore growth. Most importantly there was no new funds committed to the exercise.
No comments:
Post a Comment