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| Europe |
| IMF chief Dominique Strauss-Kahn urges leaders to cede more sovereignty to EU |
| 2010-11-19 |
| In what are likely to prove controversial proposals, Dominique Strauss-Kahn, the IMF managing director, called on the European Union to move responsibility for fiscal discipline and structural reform to a central body that is free from the influences of member states. In a speech in Frankfurt addressing the sovereign debt crisis engulfing Europe once again, he said: “The wheels of co-operation move too slowly. The centre must seize the initiative in all areas key to reaching the common destiny of the union, especially in financial, economic and social policy. Countries must be willing to cede more authority to the centre.” Europe is plagued by crisis because member states put too much faith in banks and let their public finances run out of control. Greece has already been bailed out and Ireland is expected to agree a €100bn (£85bn) rescue within days. Portugal is also at risk. |
| Posted by:tipper |
| #2 Because ceding it's currency decision to the Euro has been so successful for the people who used to live in the country called Ireland/Eire. |
| Posted by: Bright Pebbles 2010-11-19 19:35 |
| #1 Countries must be willing to cede more authority to the centre. Ein volk. Ein reich. Ein bunde. |
| Posted by: AlmostAnonymous5839 2010-11-19 15:01 |