Opinion: (Philipp Roesler, German Economics Minister): “German Economy Minister Philipp Roesler called for a euro zone ‘stability council’ with the power to sanction countries that mismanage their finances.
“Such a council would be independent of governments and have the power to help countries implement economic reforms, if need be by determining where financial aid from fellow members would best be spent, Mr. Roesler, who is also vice-chancellor in Angela Merkel’s government, told reporters.
“‘A stability council wouldn’t mean – “you’re not getting any money”, but rather we’ll apportion it for you,’ he added.
“Mr Roesler, the head of the small pro-business Free Democrats (FDP), also called for ‘competitiveness tests’ to determine how countries were managing their finances.”
My Comment: Needless to say, this decision is very much German. But we shall soon see that without the ballast of industrially developing countries, Germany itself will fall into the crisis more deeply than anybody else. And no establishment will help until they change egoistic society to a “family.”