"Chancellor Merkel is punting a plan that all EU countries have to have their budgets approved at EU level, before adoption, to enable control of excess deficits." Please correct me if I am wrong here but isn't this the same EU that has never ONCE in its entire existence declared, put together or audited a single budget concerning its own activities? For "approved at EU level" read approved by France and Germany the sole beneficiaries of this cosy little club. The Euro as a currency is doomed, only it doesn't realise that it is dead yet.
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