From Merkel and Hollande comes a new and decisive legitimization of Draghi's words yesterday: "Germany and France are determined to do everything to protect the eurozone", they said in a joint statement "For this reason - reads the note - the States Members, as well as the European institutions, must assume their responsibilities for their respective competences'. Merkel and Hollande underlined the need to quickly implement the decisions taken by the European Council of 28 and 29 June.
The Berlin government thus reaffirmed its position in support of Draghi as German government spokesman Georg Streiter had already done in the morning, stating that "the government respects the independence of the ECB". After him, Wolfgang Schaeuble, finance minister, also announced in a statement that he had welcomed Mario Draghi's statements on the necessary measures to be taken to save the euro "within the current mandate which is to take the necessary measures to preserve the euro”. "The prerequisite for this - he added in the statement on Draghi's statements - is that politics too take and apply the necessary measures to combat the financial and confidence crisis".
Without forgetting the reforms therefore: "The reforms of the countries themselves are in first place in combating the crisis in the Eurozone", said the minister, who took stock of the reforms of the various states in difficulty. “In Spain, another package for fiscal consolidation and increased growth and competitiveness is added to the program decided to strengthen the banking sector. Italy has taken decisive measures to stabilize the Italian state budget and at the same time has made clear progress in structural reforms. Portugal and Ireland's programs are on track."
According to Schaeuble, the institutional framework of the Eurozone must be further strengthened and he recalled that "with this aim the European Council of 28 and 29 June gave a mandate to the President of the European Council, in collaboration with the President of the Commission, of the Eurogroup and of the ECB, to develop for this autumn a plan with a roadmap for the future of the economic and monetary union and for its strengthening". But he also reiterates that the German government is not changing its line and is against granting a banking license for the future European stability mechanism ESM.
