Tuesday, April 23, 2013

Merkel warns eurozone that the Germa......EU 'has the last word' on national budgets ahead of crunch talks on saving the single currency

Countries in the single currency were warned last night they must accept the EU ‘has the last word’ on control of national budgets.

German Chancellor Angela Merkel, the continent’s most powerful leader, insisted countries would be forced to cede more sovereignty to rescue the troubled euro.

Her remarks, ahead of a summit of European leaders to discuss so-called ‘fiscal union’ in June, raised fresh concerns about Britain’s place in a rapidly changing European Union.