G2G...not apathy....retoringMay 22 (Bloomberg) -- European Union finance ministers pledged to stiffen sanctions on high-deficit countries and ruled out setting up a mechanism to manage state defaults, saying no euro country will be allowed to renege on its debts.
Generally, the above news, delivered a simple message to me. G to G affairs are much easy to compromise. Further more, an old idiom;
官字，两个口The scenario is vary from the US government provides the rescuse package, TARP, to those financial institutionals. During then, the US governement has the right to rescuse or reject any financial institutionals. It's not a NATIONAL INTEREST or to protect its' prestigous.
EU is a body, which many countries are involved. Failure of any country in the EU, swaying others is a forgone conclusion. Hence, in the "Malaysia context" of understanding how the EU countries responsding toward the Greece fiscal problem;
"You help me, I help you"
I'm turning positive, seeing the rich countries in the EU, toned decisive to halt the potential European sovereign debt crisis;
Deliberations over the revamp of Europe’s economic management came after German Chancellor Angela Merkel won parliamentary backing for Germany’s contribution of as much as 148 billion euros to the EU’s planned 440 billion-euro debt- stabilization fund, the largest single share.
“Forget the treaty, let’s focus on what we can achieve in the short term,” French Finance Minister Christine Lagarde told reporters. “We are not against change, but let’s see what is deliverable very quickly.”
After all, a US$1 trillion had been allocated in this effort. Will the EU willing to see the US$1 trillion futiled?
ZKIZ Archives @ 2019