European equilibrium shift, Eu takes new direction

Merkel isolated, Hollande and Monti push for growth

24 May, 10:51

(ANSAmed) - ROME - Everything is changing rapidly in Europe.

The eventful summit in Brussels - with much speculation and denials over whether Greece may leave the eurozone - marks a change in pace and direction, which for better or for worse shows that the EU will be going down a new path from now on. The transformation is clear: from a Europe withdrawn and chained to a ''Carolingian'' doctrine of unyielding austerity, unable to foresee possible scenarios for the future, to a less predictable and hopefully more agile European Union, able to attempt to envision a doctrine allowing for concrete initiatives for growth and a bit more hope for its citizens, frightened by the recession and the economic crisis. The road has just began, and looks to be long and winding. At the moment it is difficult to imagine such ambitious and agreed-upon aims as eurobonds and an ECB acting truly and fully as a central bank. However, the intermediate objectives beginning to take shape and at least under discussion now - from project bonds to the golden rule, passing through a recapitalisation of the EIB - bear witness to new collective sensibility on the part of Europe. It is a sensibility which one can pin names and surnames on. First of all Francois Hollande, who came to his first European summit with an unexpected manner, firmly reiterating his strategy but also and above all not hesitating to break with such time-honoured traditions as the pre-summit with Germany in light of existing differences of opinion, the extent of which can now be clearly seen. The second name to take note of is that of Mario Monti, who once again showed his ability to bring equilibrium and to mediate, thanks to a lengthy and widely-acknowledged experience at the European level, as well as a consistency which has cost him much effort and sweat over the past few months in his role as prime minister. In this new phase German chancellor Angela Merkel seems distant and on the defensive. However, nothing is decided in Europe if Germany does not agree. Even an isolated Germany - as is the case at the moment under Merkel - is still able to guide European decisions. This triangle will serve as the basis for decisions on the future of the EU - decisions which must be made quickly. After the summit, little time remains. Deadlines are fast approaching: the Irish referendum on May 31, Greek elections on June 17, the decisive European summit at the end of June. These are the temporal margins at our disposal. But above all there is the fear prevailing on the markets. Everything is moving fast - like the internal changes of a Europe which, finally, seems to have realised what is happening around it. (ANSAmed).


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