"Hollande wants to collectivize debts in the euro zone as much as possible. Merkel is against the idea, because it would require Germany to make the largest contribution. She would only be willing to make concessions on the issue, she said, if the individual countries agreed to relinquish a substantial share of their sovereignty on budgetary issues to Brussels. Hollande wants precisely the opposite approach, as he emphasized in Rome."
'Even a cautious and levelheaded man like German Finance Minister Wolfgang Schäuble isn't entirely sure that the European Union will survive the possible collapse of the monetary union. Many things would be called into question, the finance minister said in a SPIEGEL interview, "from the common domestic market to freedom of travel in Europe."'
The situation is so dramatic that Italian Prime Minister Monti is already predicting that the fate of the euro will be decided within 10 days.
'Even a cautious and levelheaded man like German Finance Minister Wolfgang Schäuble isn't entirely sure that the European Union will survive the possible collapse of the monetary union. Many things would be called into question, the finance minister said in a SPIEGEL interview, "from the common domestic market to freedom of travel in Europe."'
The situation is so dramatic that Italian Prime Minister Monti is already predicting that the fate of the euro will be decided within 10 days.