It is, however, hoped that the forthcoming summit will finalise a draft proposal enabling almost 26 of the 27-member states to restructure their existing monetary infrastructure and work out modalities for overcoming stagnation in growth and productivit.
The prime intention behind the cobbling of resources and talent is to avoid a default at whatever level, and get the euro going. How articulately the leadership is going to achieve that goal doesn’t have any simple answers, but it goes without saying that collective decision-making has unfortunately become a secondary issue.
European leaders are in need of rewriting the terms of engagement and in doing so they should not be bogged down at the hands of economic exigencies. The very concept of political pluralism beside economic cooperation has come to a naught, as reservations from individual member states over the last two decades on almost every flimsy context had destabilised the path of integration. The Scandinavian countries have their own ifs and buts, and so is the case with central European states, namely, Austria and Switzerland. The big four of Europe have their own dilemmas to cope with, and the prime among them is an irresistible competition. No better is the case of economies on the brink: Greece, Italy, Finland and Spain. This brings them, nonetheless, closer to what had been agreed in principle, and that is to create a cushion fund for ailing economies and choreograph their fiscal plans for years to come.
The mantra of regulations and reforms hasn’t worked to this day, and there are tricky issues on taxation, pensions and investments that have kept them off in bad light. Starting off on a pessimistic note this year, Germany, France and Britain have no choice but to buck up for a deal on austerity, growth and funding. Saving the euro should be a mandate and not merely an option.
Dr.Rohan Perera Thursday, 12 January 2012 07:36 AM
It is indeed strange to see a educated gentleman coming from a good family behave in the most unpredictable manner. Ranil wickramasinghe is hellbent on taking revenge on people like sajilth, Karu, Dayasiri, Rosie and many more who are really getting support for the party.What action is he taking against himself for breaking the constitutional requirements on innumerable occassions. Recently he is supposed to have opened a website? really it is a blog, it cannot be opened. Is he been influenced by the incompetent secretary and the senior fossils, What a shame we who have been the strongest supporters of the UNP are led down the garden path
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