Opposed the German Economy Minister Philip Roessler increase the size of umbrellas to save the euro as a means to control the crisis.
He said that to continue to increase aid packages is not the right way to control the crisis.As clearly expressed his opposition to the integration of European financial rescue fund and the mechanism of the European financial stability, which may lead to ensure the greatest danger. The Minister considered that the current tools is quite adequate to cope with the crisis.
And there are signs that financial markets accept the umbrella of the rescue. Rössler said that although the classification of the European financial rescue fund fell, however, that the fund put bonds at the lowest level of benefits. He added that enables countries such as Italy and Spain put bonds at the lowest level of benefits is also considered a good sign. He said that this shows that the capital markets recognize Charter financial plan in Europe.
In a related context, said Italian Prime Minister Mario Monti said that the budget set to pass the Charter of the countries of the euro area quickly will ease the positions of Germany and the European Central Bank on the debt crisis of the euro area. The Charter, which is known as the “financial pressure” and is expected to be approved by EU leaders at a summit January 30 will force the signatories to the obligation not to a deficit in the budget.
And allows the European Court of Justice to impose financial penalties on states that do not comply with its rules. Monte said: I feel that the vision and appreciation of the positions of all parties concerned will change once a political agreement – which is expected to happen very soon – and then ratify it and start implementation quickly. The Monte, who is also Minister of Economy in the Italian government speaking after talks with his European counterparts in Brussels. Monte said that the same idea applies to the position of the European Central Bank: I think we can see there is also an assessment.