Thursday, November 10, 2011

"Euro Break" Dance

Reuters

"France and Germany have had intense consultations on this issue over the last months, at all levels," a senior EU official in Brussels told Reuters, speaking on condition of anonymity because of the sensitivity of the discussions.
"We need to move very cautiously, but the truth is that we need to establish exactly the list of those who don't want to be part of the club and those who simply cannot be part," the official said.
The change has been discussed on an "intellectual" level but had not moved to operational or technical discussions, the EU official said.
A French finance ministry spokesman denied there was any project in the works to reduce the currency bloc's membership.
"There have been no conversations between French and German authorities at any level on decreasing the size of the euro zone," the spokesman said.
A radical overhaul of the European Union would be opposed by many members.
"This will unravel everything our forebears have painstakingly built up and repudiate all that they stood for in the past sixty years," one EU diplomat told Reuters."This will redraw the map geopolitically and give rise to new tensions. It could truly be the end of Europe as we know it."

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