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EU meetings, here is the news
by admin ·
Shares rise in Europe for the first time in two days, then the fact that most of the countries of the region agreed budgets tighter controls, following a high concern for the delay in talks greek debt. EU leaders, meeting in Brussels yesterday, have completed a tax treaty of discipline that accelerates the sanctions for countries with high deficits and the euro requires countries to anchor the budget to the rules of national law. Eight out of the euro countries have supported the pact, while Britain and the Czech Republic have avoided.
The meeting ended with no agreement on how to tie the budget hole of Greece, something for which the German Chancellor Angela Merkel has expressed frustration. The debt sustainability of Greece is a particularly bad thing, Merkel told reporters. We must find a way, through greater action by the greek government, with more contributions from private creditors. The primary objective is to bridge this gap.
The Portuguese Prime Minister Pedro Passos Coelho said that his country’s debt has been fully considered by the EU and sustainable by the IMF, so that there is no devaluation risk securities.
The situation however remains critical for the EU, with countries that must necessarily find a solution to the debt, which now is slowing down other countries in the world, starting with Britain, to find a new business partner towards which to direct their choices, it is aimed at China, a country that in 2011 showed a higher rate of growth in recent years than in all other countries of the world. We’ll see, but the solution must come soon.
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Tags: budget, debt, sustainability