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Sarkozy, Merkel call for unity among European nations

08-18-2011 09:08 BJT Special Report:After S&P Downgrades U.S. Credit Rating |

Political analysts in Europe have responded to plans proposed by the leaders of France and Germany to try to stabilize financial markets. On Tuesday, French President Nicolas Sarkozy and German Chancellor Angela Merkel called for greater economic discipline and unity among European nations.

Following emergency talks in Paris, Sarkozy called for a "new economic government" for Europe that would meet at least twice a year with European Union President Herman Van Rompuy as its head.

But he offered few other details or indications that the body would have real power.

Ann Mettler, who heads Brussels-based think-tank, the Lisbon Council, says Sarkozy and Merkel failed to reassure the markets.

She said, "Stabilising public finances is one thing but what Europe really needs is a growth strategy and a modernisation strategy, and this is very much missing. It's only about the short-term immediate crisis-management and not really about an economic development strategy that's, say, for the next 10 or 20 years."

With new figures showing slowing growth in France and Germany, Europe's two biggest economies,tourists in Brussels say they're spending less money this summer.

Spanish civil servant Lola Haro said Belgium is an affordable holiday destination and that she is being cautious with her money because of concerns about the Spanish economy.

Meanwhile, in Rome, where one of the founding treaties of the European Union was signed, some people applauded Sarkozy and Merkel's plans.

David Paganoni, tourist from Milan, said, "I think a joint European policy is necessary, because initiatives by single members of the eurozone aren't always coherent and they don't often take into account what's best for the EU as a whole."

But Fabrizio Mattesini, a professor of macroeconomics at the University of Rome "Tor Vergata" gave the proposals a mixed reaction.He said the measures are certainly good, but not sufficient for the current situation.

 

Editor:Zhang Jingya |Source: CNTV.CN

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