Sunday, December 4, 2011

Can France and Germany Keep the Euro Alive?

At Telegraph UK:

Can Germany and France reach agreement on radical new rules that would mean a loss of sovereignty over fiscal policy for euro nations - and can they do it in time to save the single currency?

On the same day that the world's main central banks took emergency action to prevent a global financial crash caused by the eurozone crisis and as France warned that war could again return to Europe, a short film was released.

The slick computer-generated imagery shows a beautiful woman coming to life from the frieze of an ancient Greek vase: she is Europa.

Using video technology, the mythical goddess of ancient Greece morphs into an attractive real-life woman wandering magical bridges that link the European continent.

Last Wednesday's film, a seven- minute "informational" from the EU to mark 10 years of the euro, is accompanied by a reassuring female voice-over telling viewers that "Europe inspires hope".

In an unintentionally surreal touch, the film was released at the same time that Alain Juppe, the French foreign minister, warned that the euro's looming collapse could lead to war. On the same day, others were equally downbeat. Herman Van Rompuy, the EU's president, admitted that the eurozone debt crisis had become "systemic" and "full blown". Enda Kenny, Ireland's prime minister, said: "There is a real and present sense of danger."
Continue reading.

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