09 November 2011

FRANCE /GERMANY / EUROZONE: 'Merkozy' Discusses Smaller Euro Area With 2 Tiers.


     Its not a secret anymore.
     German and French officials have talked quietly about radically changing the EU...and making the 12-year-old eurozone smaller than its current 17 nations...with a 2-speed zone...but also with a confederation of perhaps 27-35 nations.
    An unnamed official said: "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."
    "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 is not about a two-speed Europe, we already have that. This will redraw the map geopolitically and give rise to new tensions. It could truly be the end of Europe as we know it."