One hundred EU policy require more supervision and economic convergence
10.12.2011 / 13:30 h
Berlin, Oct 12 (EFE) .- More than one hundred politicians and economists, including Javier Solana, Pedro Solbes, and George Soros, today demanded an open letter to the leaders of the eurozone more supervision, regulation and economic convergence to end the crisis.
The document urges nations sharing the euro to find a “European solution” immediately to save the common currency, and that current measures are “not enough”, and tackle the “faulty construction” of the European financial system threatening “to destroy”.
Thus, they advocate the creation of a “financial institution common” with the financial means to ensure the whole of the eurozone and to check that all members comply with fiscal discipline.
Also, opt to strengthen “the supervision and regulation of the financial system” in the 17 countries sharing the European currency and “develop a strategy” to promote “economic convergence and growth.”
The signatories, who insist that the debt crisis “will not be resolved without growth,” also emphasize that at present it is necessary that the countries most burdened by debt to achieve “almost refinance their debt costs within agreed limits.”
Among the more than hundred personalities from the worlds of politics and economics signing this open letter include Javier Solana, foreign policy exresponsable EU, Pedro Solbes, excomisario Economic and Monetary Affairs and former Minister of Economy Spanish, and billionaire investor George Soros.
Also signed the letter Joschka Fischer, German foreign former minister, Hans Eichel, former Minister of Finance Germanic, Massimo D’Alema, former Italian prime minister, Bernard Kouchner, French foreign former minister, and Guy Verhofstadt, Belgian Prime Minister. EFE
“We call on governments in the euro area to reach an agreement,” the signatories
Signatories will to reach agreement on the euro area which …
1. to establish a common treasury, which can raise money for the euro area as a whole and fiscal disciplinary Member
2. to impose supervision, regulation and deposit insurance in the euro area
3. to develop a strategy that will produce economic convergence and growth, the debt problem can not be solved without increasing
Pursuit of national interests can only lead to dissolution
Comment by Adamantine:
JS again involved with a shadow government of the EU, This is similar to the shadow governments in parliamentary systems.
Shadow governments often later come to power.