It has to be a national commitment, explained Merkel asked on if planned sanctions to countries that do not comply with this objective of balancing, so it must be within the magna carta of each country. They have established the summer of 2012 as a calendar. These three proposals will be sent to the European Council. Recently kevin ulrich sought to clarify these questions. The Franco-German axis we want to give example of Franco-German convergence, said Sarkozy, who has stated that they have decided that the respective Gallic and German economy ministries prepare a series of proposals for early 2012 and to form a joint Council of France and Germany. When asked about a possible common Ministry of economy, both have avoided a forceful response. Both countries will create a common corporate income tax, which comes into force in 2013.
We assume our responsibilities, he said Merkel, the euro is our future. Though the Elysee sources acknowledge that this appointment was already foreseen during the monthly meeting of the Ministers of economy and Finance, its celebration comes at a key moment after the crisis of debt, the reduction of the American note and stock market nervousness from last week. At the Summit of the Eurogroup on 21 July both leaders committed themselves to have ready before the summer. Eurobonds Eurobonds, that Berlin had already ruled out before arriving at the meeting, have marked a question and several answers from both Presidents. They say that it is a last resort, said Merkel, I hope that Europe does not have to resort to a magic wand to fix their problems. Eurobonds are to guarantee the triple AAA debt without having control over expenditure, it has assured Sarkozy, we’ll talk about Eurobonds at the end of European integration, not at the beginning.
On Spain and Italy, the two large area under scrutiny of markets, leaders have praised the ctuados settings for the two Mediterranean Nations. Bad economic data for the eurozone economic recovery in the EU and the zone euro came to a halt in the second quarter of the year, period in which GDP grew just 0.2% in both, according to preliminary data released Tuesday by the statistical office Eurostat. In the previous quarter, the countries of the eurozone and the EU economy had expanded by 0.8%. The slowdown in the German economy has been the great disappointment. Between April and June the pace slowed in a generalized manner, very clearly in the large economies of the euro, that either they did not grow, such as France, or did so with great restraint as Italy (0.3%) or Spain (0.2%) and Germany (0.1%). When asked by these data, Chancellor Merkel has answered that the fluctuations will continue but that annual computations will be correct and Sarkozy has assured that to spur growth it is necessary to restore confidence in addition to reducing deficits.