Europe and the euro are on the edge, warned one of the initiators of the European Common Market and a former European Commission president Jacques Delors in an interview with Belgian newspaper Le Soir and the Swiss Le Temps, quoted by RIA “Novosti”.
86-year-old Delors said that the meeting between German Chancellor Angela Merkel and French President Nicolas Sarkozy on Tuesday did not lead to real solutions for the withdrawal of euro area debt crisis.
“Let’s open our eyes – the euro and Europe are on the edge. I think the choice is simple: either the Member States would agree to closer economic cooperation, which I’ve always wanted, or will provide additional powers to the Union”, he said, referring to the European Union.
In his second of the two options was rejected by a majority of the 27 Member States and remains the first.
Delors also believes that the refusal of closer economic cooperation with the community threatens disintegration.
After meeting on Tuesday Merkel and Sarkozy proposed to establish a common economic government for the euro area member states, led by President of the European Council, Herman Van Rompuy.
In addition, they offer an additional tax on financial transactions, but said it considered premature to introduce the idea of bonds, common to the euro area.