17 August 2012The euro zone requires a mechanism to facilitate expelling states that violate their stabilization commitments. A corresponding statement was made by Austria’s Vice-Chancellor, Foreign Minister Michael Spindelegger.
In his opinion, such rules would serve to strengthen confidence of world markets in the euro.
Several EU and euro zone countries are in deep crisis. Greece’s plight is the most severe, with the country facing the possibility of a default on August 20.