" in meetings with EU leaders in recent weeks, it has become clear to both German Chancellor Angela Merkel and French President Nicolas Sarkozy that it may not be possible to get all 27 countries on board, EU sources say.It looks like the current government funding crisis is indeed accelerating the consideration of further European political integration. The only question now continues to be whether the new political (and hence fiscal) arrangements will include the whole of current members of the currency union, or "a core" of those countries.
Even if that were possible, it could take a year or more to secure the changes while market attacks on Italy, Spain and now France suggest bold measures are needed within weeks.
As a result, senior French and German civil servants have been exploring other ways of achieving the goal, one being an agreement among just the euro zone countries.
"The goal is for the member states of the common currency to create their own Stability Union and to concentrate on that," German Finance Minister Wolfgang Schaeuble told ARD television on Sunday.
Another option being explored is a separate agreement outside the EU treaty that could involve a core of around 8-10 euro zone countries, officials say."
Sunday, November 27, 2011
Germany, France examine radical push for eurozone integration
Story out of Reuters. Excerpt: