EU Commissioner brands Merkozy plan a "joke"
Automatic sanctions for countries that breach eurozone budget rules - an idea pushed by Angela Merkel and Nicolas Sarkozy - would be a joke, a member of the European Commission said.
Introducing "automatic sanctions" for countries that breach eurozone budget rules - an idea pushed by German Chancellor Angela Merkel and French President Nicolas Sarkozy - would be a "joke," a member of the European Commission said Tuesday.
"Automatic sanctions are a joke. Fiscal union needs collective, democratic decision-making that can respond to challenges and manage aggregate demand," EU Employment and Social Affairs Commissioner Laszlo Andor wrote on Twitter.
Andor also attacked France and Germany's focus...
Subscribe from just €1 for the first month!
All Digital Access + eReader
Unlimited Access for 1 Month, €19.99 Monthly thereafter
*New subscribers only
€149 For the 1st Year
Unlimited Access for 1 Year
90 Day Pass
Unlimited Access for 2 Years
Get a Business Account for you and your team