Merkozy

Merkozy is the new nickname given to Angela Merkel the Chancellor of the German Federal Republic and to Nicholas Sarkozy the President of the French Republic following the path of Brangelina and TomKat... It is of course a journalistic tool of cynically expressing that the duo formed by the leaders of the largest economies of the Eurozone are the ones dominating the talks on the euro crisis and who are practically dominating also the EU politics as a whole.

Of course everyone is waiting for the results of next weeks European Council meeting and looking forward to what solutions the two leaders will come up with. Today in a speech in the Bundestag Merkel shared some of her thoughts including an opposition to Eurobonds, the preferance of treaty modification over a new treaty within the Eurozone and that she believes the automatic mechanism of sanctioning states would be the best solution done by European institutions. She highlighted that it is important not to create a further gap between Eurozone and non-Euro EU Member States. Which is not only a good news for the UK, but also for states of the Euro Plus Pact and other states that may later wish to introduce the euro as a currency such as Hungary for example. She also addressed claims of a German dominated Europe saying that their actions are not to dominate, but in the spirit of Konrad Adenauer and Helmut Kohl. She will discuss her plans with Sarkozy on Monday in Paris.  

Also today David Cameron talked about his meeting with Nicholas Sarkozy stating he doesn't believe a treaty change is needed and if it will go through he will try to make sure that UK interests are taken into account. Well I do not believe that if a new treaty is created within the Eurozone that the UK diplomacy can do much. It is of course a possibility if there is a treaty change for the UK to try to block it, but I think that the UK's approach to the talks so far were very distant due naturally to the fact that it has stayed away from the euro.