21 August 2012

Collective responsibility for national debt burdens

In a column published by Reuters, Anatole Kaletsky argues that Italian and French leaders would only find political and fiscal integration acceptable, if collective European control over domestic fiscal policies – which is insisted upon by Germany – would be ‘balanced by collective responsibility for national debt burdens.’

Kaletsky argues that this ‘more complex and balanced approach to fiscal integration’ could make the continued existence of the euro possible, and would save Europe from ‘a decade of depression.’

Source: Reuters | Column: Reject the politics of oversimplification