WEEKLY COMMENT 14-09-2017
By Barry Edwards
This week we have had the ‘State of the Union’ speech from Jean-Claude Juncker and a statement from the French finance minister Bruno Le Maire at the gathering of finance ministers in Tallinn, the Estonian capital, that Paris and Berlin would push through an overhaul of the Eurozone.
The Juncker speech was a typical federalist approach with some solid suggestions that were well received but most reactions were that most of it would not happen. It comes as no surprise to anyone that the real power lies firmly in the hands of France and Germany with the main thrust for now coming from President Macron. Angela Merkel has made it known that she is willing to go along with some of the French plans but while the German election is still pending the commitment is to be confirmed after the 24th of September.