Marek Belka says country remains reluctant to join the euro, as he warns that world is running out of ammunition to fight the next financial crisis
Poland will not join the euro while the bloc remains in danger of “burning”, its central bank governor said.
Marek Belka, who has also served as the country’s prime minister, said the turmoil in Greece had weakened confidence in the single currency.
The IMF report on Portugal’s implementation of an EU-brokered bailout plan aims to throw off the country’s constitutional court, says i.
Instead of including reforms in the 2014 state budget, the IMF wants to push directly into structural reforms, which assumes to be the most difficult part of the Portuguese adjustment program. Continue reading
BERLIN/PARIS (Own report) – Using a deceptive strategy, Berlin seeks to ward off the French President-elect François Hollande’s demand to put an end to the German austerity dictate. Other heads of EU member nations have begun to demand alongside Hollande that the EU return to credit financed stimulus programs, to prevent the complete collapse of several national economies, such as Greece is now confronting. Since the demise of the coalition government in the Netherlands, Berlin has found itself rather isolated and, alongside declarations of not allowing the EU zone to budge from its current austerity course, is resorting to methods to create confusion within the rebelling populations. The government is keeping “a placebo for the Euro partners” on hand, explains the press. The chancellor will most likely adopt some of the terminology used by François Hollande, but with her own interpretations. For example, she will speak of “promotion of growth,” while meaning the imposition of “structural reforms,” as envisaged by the austerity dictates. No new expenditures are planned. This is how the French growth offensive will be verbally ensnared, without having ceded an inch on the essence.
Full article: Camouflage and Deception (German Foreign Policy)