"What is brewing" is a solution to avoid a risk that is no longer a taboo: the collapse of the euro zone. "The eurozone has only 10 days left to avoid collapse," writes Wolfgang Münchau in an analysis released today by the Financial Times and Solana has told in another tweet. A lack of detail, which is being discussed is a reform of the Stability Pact, which until now has been the linchpin of the eurozone, and that would mean higher standards and greater fiscal union. What remains unclear is whether to apply to all euro area countries or only to what is beginning to call "hard core".
Solana refused to go to a two-speed Europe: "Europe already has many speeds ... not all Schengen countries are not all part of the eurozone". Faced with speculation, prefers to talk about what what you would like: "A deepening of the Stability Pact to include Fiscal Union, which in itself would be a major change."
Anyway, for the former High Representative "something important is happening." And when will be implemented? What about the EU summit on December 9? "It may be the 9th of December, or before," he says, "certainly before we go on vacation." "Europe has 10 days at most," Münchenau writes in his analysis. So the remaining days are crucial and catch Spain in full transfer of power. "I'm not criticizing anyone," Solana repeated but the warning is clear enough: "Spain has to do everything possible so that what is emerging not take us to improvise." Who has to make a move, the outgoing government or the government in pectore? Zapatero or Rajoy ¿? "I hope that in the meetings I have held I have spoken of it."
In his tweet, Solana referred to "Italy-Monti is already on the move ...." The image of the top three who held on Friday, Mario Monti, Angela Merkel and Nicolas Sarkozy on Sunday was reinforced by the words spoken by the French Minister of Budget, Valérie Pécresse: "Germany, France and Italy want to be the engine of a much more integrated Europe. " Rome wants to be able to influence is beyond doubt. It will see what Spain to be part of the "motor". LINK