November 10, 2011
The eurozone breakup is no longer taboo. Germany and France discuss plans for a radical overhaul of the European Union that would involve setting up a smaller eurozone.
Italy, a founding country of the EU, is at near breaking point with yields on its debt bonds at levels seen as unsustainable.
Markets reacted sharply, stocks sank, raising fears of meltdown.
11.11.11 will be a day to remember for Europe and the world. For most of Brussels bubble, it is supposed to be a holiday. Last time the Commission was closed on 1 November, All Saints Day, in spite of the fact of the proposed Greek referendum that sent a wave of panic across Europe and the world. But tomorrow the institutions will work. The Polish EU Presidency has even scheduled a briefing ahead of Tuesday’s European affairs ministers’ meeting on 11.11.11 at 11hrs.
What else could 25 European affairs ministers discuss if not what is France and Germany plotting behind their back.Georgi Gotev