LUXEMBOURG (MNI) – The draft roadmap for Europe is too focused on
debt mutualization and falls short on improved governance, German
Minister of State at the Foreign Office, Michael Link, said Tuesday.
“In part, it reads like a wish list for debt mutualization, more
towards [mutualization] of new debt rather than old debt,” Link told
reporters, ahead of a meeting of foreign ministers preparing the EU
summit later this week. “Where it falls very short, is in the area of
control, the improved governance in the Eurozone.”
“We remain unconvinced that this is a sensible way out of the
crisis,” he said.
Link said the crisis has shown that improved rules and governance
are needed to prevent future crises in the Eurozone.
Link stressed that this is “just a first assessment” of the roadmap
— drafted by European Central Bank President Mario Draghi, EU Council
President Herman Van Rompuy, European Commission President Jose Manuel
Barroso and Eurogroup head Jean-Claude Juncker — and, while important,
the draft was not a document that required a decision at this point.
— Frankfurt bureau: +49 69 720 142; email: frankfurt@marketnews.com
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