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Thursday, November 17, 2011

Merkel tightens grip on eurozone: Why did Irish budget plans end up in Berlin?.... is the penny about to drop? - 18th Nov 2011

Fears that Germany’s grip on the eurozone is tightening increased last night after it emerged that details of Ireland’s budget plans were leaked to German politicians.

A document circulated in the German Bundestag revealed Dublin’s proposals to save the debt-ridden country £3.25billion.

The details were for next year’s budget, which have not yet been approved by the Irish Taoiseach Enda Kenny.

He was forced into an embarrassing denial that his plans were being inspected in Berlin.

Any suggestion that Ireland is running its austerity cuts past Europe’s economic powerhouse for approval will fuel concern that Germany is using its wealth as a lever to amass power over the 17-nation single currency bloc. Read More

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