Wednesday, July 21, 2010

Wolfgang Schäuble attends French Cabinet

OK, so the cartoon is in pretty bad taste, but it is extraordinary that the German Finance Minister is taking part in a full Cabinet of the French Government, and hasn't happened for a few generations.

He is there to demand greater compliance with the concept of a single European Economic governance, and he says this will require Treaty changes.
"The question is in what way can we make the Stability and Growth Pact more effective within the framework of the existing Treaties. But it is clear that we must also come out with other proposals and accept some Treaty changes, if necessary. There is, among our partners, a bit of scepticism with regard to possible Treaty changes. Many people say it is a long-term process. However, if we consider that we cannot limit ourselves to imposing financial sanctions, and that we must also take into account non-financial instruments - such as the temporary withdrawal of voting rights - in order to make member states respect the pact, then Treaty changes are necessary".
Translation courtesy of Open Europe.


Grahnlaw said...


The Franco-German engine of European integration may be spluttering and lacking leaders of real European stature these days (cf Walter Munchau), but frequent meetings at all levels of government and joint cabinet meetings are almost run of the mill.

Which EU have you been following since the Elysee Treaty (1963)?


a big zieg heil then,if you will not agree ve haf vays of making you.
"each warrior picks himself a stake,to try if he the great beasts neck can break,lord what vile creatures fortitude doth make"