Speaking of unaccountability in Europe. . .
The European Union’s head office conceded Wednesday that politics, not just EU law, will be considered when it decides whether to take national governments to court for letting Germany and France off the hook for violating euro rules.
The European Commission, charged with upholding EU law, still has “serious reservations about the legality” of the decision by EU finance ministers on Nov. 25, chief spokesman Reijo Kemppinen told a news conference.
France and Germany, which account for roughly half of the euro-zone’s economic output, wielded their combined clout to block the commission’s recommendation to censure them for failing to rein in excessive budget deficits.
This, on the same day when a fellow calling himself “The Old European” wrote here:
I bet my guaranteed state pension that the US dollar will depreciate some more against the euro this year.
I’ll take that bet, and raise you 10 billion Weimar deutschmarks.