EU discontent over French budget deal's 'political bazaar', France, Germany and the European Commission believe leaving Paris unpunished for persistently failing to curb its budget deficit was a wise compromise that bolsters the euro.
But it takes little effort to find EU officials who say it sends a signal to governments and investors that rules set to hold the common currency together are bankrupt. That, they fear, may make it harder for the euro to weather a future crisis.
"The rules are hardly comprehensible," Jens Weidmann, head of the German central bank, said last week. "And the implementation is like some political bazaar."Read More
But it takes little effort to find EU officials who say it sends a signal to governments and investors that rules set to hold the common currency together are bankrupt. That, they fear, may make it harder for the euro to weather a future crisis."The rules are hardly comprehensible," Jens Weidmann, head of the German central bank, said last week. "And the implementation is like some political bazaar."Read More
