Euro Ministers Back Next Greece Bailout Payment
In its attempts to strengthen the Europe against future financial crises, the EU has made significant promises about the kinds of powers it's ready to hand over to the central bureaucracy. On Thursday, leaders discussed the possibility of having their countries enter into individual contracts with the EU to ensure they keep their commitments to cut excessive spending and adopt important reforms to make their economies more competitive.
They also talked about creating a budget for the eurozone that could help prop up countries that are struggling under the weight of reforms â¿¿ as Spain and Greece are now.
The problem leaders face is that they are concentrating so much power in Brussels that they need to make institutions and leaders who are now largely unknown accountable to voters. Some countries that don't use the euro are also beginning to worry about being marginalized in the EU as the countries that do use the currency build up their institutions.
Nonetheless, Hollande said the work of the past days allowed for "a good conclusion to 2012.""That is, both to fix the problems of the past and to open a new possibility to a deeper economic and monetary union." ___ Raf Casert, Sylvie Corbet and Robert Wielaard in Brussels, Geir Moulson in Berlin and Elena Becatoros in Athens contributed to this story.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV