Calls to relax eurozone rules rebuffed |

Calls to relax eurozone rules rebuffed

I am curious to hear about the behind to door conversations.

European Union countries hoping for milder terms on which to adopt the euro faced a rebuff on Tuesday from eurozone finance ministers, who said the credibility of Europe’s monetary union required sticking to EU rules.

“Given the current volatility of the situation, this would not be the right time to launch a debate on this,” said Jean-Claude Juncker, Luxembourg’s prime minister and head of the 16-nation eurozone finance ministers’ group.

The ministers’ decision is likely to be interpreted in some of the EU’s central and eastern European states, especially Hungary, as a sign that richer western European countries are failing to meet the challenge of helping their new democratic neighbours in the most difficult hour of their post-communist history.

http://www.ft.com/cms/s/0/c786ce82-0d4b-11de-8914-0000779fd2ac.html?nclick_check=1

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