Tue

05

Jun

2012

As Euro Problems Fester, ECB Eyes A More Perfect Economic Union

From The Washington Post

By   and Published: June 4

 

Euro-zone leaders aim to get control of debt crisis: Amid protests throughout the continent against strict austerity measures, European leaders are working on plans to save the euro.

European leaders are considering ways to bring banks and government budgets under central control in hopes of putting the region’s two-year-old financial crisis to rest.

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Fri

01

Jun

2012

ECB chief calls euro zone ‘unsustainable,’ criticizes Spanish bank response

From THE WASHINGTON POST

By Published: May 31


U.S. and European officials, who just weeks ago seemed to be getting a handle on the euro zone’s financial crisis, are now scrambling to prevent a new round of problems from pulling down some of Europe’s largest economies.

 

European Central Bank President Mario Draghi warned in Brussels on Thursday that he considered the euro zone’s current structure “unsustainable,” and said the region’s governments must surrender far more budget and regulatory power to a central authority if the currency union is to be saved.

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