The Eurozone According to Merkel
German Chancellor Angela Merkel did not announce her ideas for eurozone reform in a formal speech or in a statement before her peers, but instead allowed a quickly cobbled-together and telegraphic draft of a non-paper to leak. Despite consternation in Brussels and other EU capitals, the German proposals deserve serious attention.
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BRUSSELS – We had almost given up waiting for them, but then they came in a quasi-clandestine form. German Chancellor Angela Merkel did not announce her ideas for eurozone reform in a formal speech or in a statement before her peers. Rather, she allowed a quickly cobbled-together and telegraphic Franco-German non-paper to leak ahead of the recent meeting of European heads of state and government.