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07 June 2012

Bloomberg: Merkel backs two-speed Europe with core group in the euro


German Chancellor Angela Merkel said that she supports a two-speed European Union, with a core group in the euro pressing ahead with deeper integration, and the UK among others relegated to Europe's margins.

Merkel’s comments underscore her differences with the UK leader, who is pressing for more aggressive action by euro countries to counter the financial crisis roiling the 17-nation currency zone. “Those in a monetary union will have to move closer together”, Merkel said. “We have to be open. We always have to make it possible for everyone” to join. “But we must not stop because one or the other don’t want to come along just yet.” Europe is already moving at different speeds, Merkel said, citing the Schengen agreement that abolished border controls between some European countries and the monetary union that excludes the UK and Denmark.

“We need more Europe, we need not only a monetary union, but we also need a so-called fiscal union, in other words more joint budget policy”, Merkel said. “And we need most of all a political union that means we need to gradually give competencies to Europe and give Europe control.” Cameron said that the euro crisis offered an opportunity for powers to “ebb back” from Europe to nation states. “We should look sceptically at grand plans and utopian visions”, Cameron said then. “We’ve a right to ask what the European Union should and shouldn’t do.”

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