Brussels, 04/07/2012 (Agence Europe) - Germany and France want strong powers for the political leader who will represent the eurozone in order to put the post on an equal footing with that of the head of the European Central Bank (ECB), Mario Monti, or Director General of the IMF, Christine Lagarde, by 2013, French daily Le Figaro reports on Wednesday 4 July. The future president of the eurozone would devote his/her efforts exclusively to this post during the five-year term of office. He/She would take part in G20 summits.
According to Le Figaro, discussions will get down to brass tacks after Jean-Claude Juncker is re-appointed to his post as head of the Eurogroup for a further six-month period. This should be done by Monday, the European Council not having taken a decision on this matter at the end of last week (see EUROPE 10645).
This idea sits well with the political union that is so close to the heart of German Chancellor Angela Merkel. It may also face serious resistance, however. European Council President Herman Van Rompuy, who chairs meetings of both the EU27 and the 17-country eurozone, may not look kindly on a rival entering the scene. Similarly at the Commission, the commissioner for the euro, Olli Rehn, was recently promoted to one of the institution's vice president's posts. (MB/transl.rt)