Chancellor Angela Merkel of Germany is also calling for fiscal reforms in the countries of the euro zone. She believes the countries spending and level of debt should be most closely monitored and those that exceed the accepted level should have some sort of predetermined penalty.
Sunday, December 4, 2011
Leaders Struggle for Deal to Keep Euro Intact
In the article, the problems with the euro and possible ideas to help solve the problems are discussed. A major issue is the disagreements between the countries that are in debt and those that are not. Those that are in debt want more help from the European Central Bank and for it to buy more of their loans. However those countries that are not in debt (Germany is the one that is discussed here) are completely against it, since it will in large part be their tax payers who are now on the hook for the debt of others.
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It seems a fair deal, that if indebted countries are to ask for help from the European central bank, they should indeed submit to be "chaperoned" by countries that have the economic affairs in order. The European Union is a chain only as strong as its weakest link.
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