Merkel is pushing for changes in EU treaties
German Chancellor Angela Merkel pushed yesterday for changes in European treaties so that countries running excessive deficits or debts can be reprimanded. European President Herman van Rompuy said there was "no taboo" about discussing that option.
Ms Merkel said after a meeting with Mr van Rompuy in Berlin that clarifying what would happen to countries that did not adhere to the EU stability and growth pact might calm financial markets.
"I am of the opinion that we need a change of the treaties," she said.
While Mr van Rompuy stressed that "our priority is to work within the framework of the treaties", he added that "there is no taboo to speak about treaty changes" if necessary.
The comments come before a meeting in Brussels next week in which EU leaders are expected to lay out broad plans to make their economies function better.
Ms Merkel and French President Nicolas Sarkozy wrote a joint letter this week to European Commission President Jose Manuel Barroso calling on Europe to redouble efforts to regulate financial markets and crack down on speculative trading. They suggested banning so-called naked short selling across the trade bloc.
Irish Independent
