No eurozone retrenchment until 2011, says Fitch

It will be 2011 before a strong financial retrenchment will take place in the euro area, according to Fitch’s latest report on sovereign credits

Comment by: Anonymous. Posted 13 years ago [2010-09-10 00:14:59]

I'm skeptical of the observation that "all member states have given a strong political commitment to a material strengthening of the EU stability and growth pact" if only because I don't know why Eurozone countries would do so. As a US citizen, I can't understand why a country would cede authority beyond its own borders. While I may not trust my own politicians to make sound fiscal decisions, why would I think foreign politicians would do any better?