EUROPE ON THE MOVE

''Europe is on the move. After years rusting in the sidings, the Franco-German locomotive has chugged back into view. Angela Merkel is at the controls. Nicolas Sarkozy can be seen beside her in the cab. These two leaders will never be soulmates, but they seem to have agreed on a destination. It’s called European economic government..''  F.T.

 http://www.fileden.com/files/2009/1/23/2280937/All%20aboard%20for%20a%20new%20two.doc

''Greece joined Italy in objecting to annual numerical debt-reduction targets in a fresh challenge to the German-led drive for tougher economic safeguards to underpin the euro.

Greece, the first deficit-riddled euro country to fall back on financial aid, says the proposed rule would force it to make impossibly large cuts once its support package runs out in 2013, according to a draft of European Union legislation.'' BLOOMBERG

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