Monti is hoped to increase confidence in European leadership
Fri Nov 25, 2011 3:16AM
Ramin Mazaheri, Press TV, Paris
Italy's unelected Premier Mario Monti spent his Thanksgiving at the grown-ups table. EU leadership is trying to calm markets by presenting a unified front of their three largest economies and also by making some bold promises.
The proposals will be ready for an EU summit on December 9th. Analysts assume that by then Sarkozy and Merkel will have ironed out their differences over the role of the European Central Bank.
The upcoming proposals could create a route for exiting the euro, or split the euro into northern and southern zones.
After Germany's “disastrous” bond sale, the addition of the technocrat Monti is hoped to increase confidence in European leadership.
Monti's inclusion is a signal that Italy may have regained its status, as his predecessor Silvio Berlusconi was rarely invited to discuss Europe's affairs with the continent's premier power couple. It seems that “Merkozy” is being changed to “Merkonti.”