The new President has claimed a renegotiation of the Fiscal Compact to mitigate its deflationary impact and to include measures aimed at growth. The reaction of Angela Merkel has been a prompt and peremptory rejection.
The new President has claimed a renegotiation of the Fiscal Compact to mitigate its deflationary impact and to include measures aimed at growth. The reaction of Angela Merkel has been a prompt and peremptory rejection.
The shaping of economic arrangements was driven by political forces acting on behalf of corporate and financial elite interests, but economic ideas also played a critical role.
