Luxembourgish Jean-Claude Juncker will not assume the office of for another mandate President of the Eurogroup. Tired of Franco-German interference in the management of the economic crisis, Juncker sharply remarked that the two powers "they act as if they are the only members of the group".
Juncker, in recent days, had repeatedly expressed his intention not to continue in the leadership of the group of countries in the euro area, even breaking a spear in favor of German finance minister Wolfgang Schaeuble.
But the tensions between Juncker and the Franco-German "directorate" had already leaked out in the press: in an interview with the newspaper Die Zeit, the President of the Eurogroup had in fact reported that "17 of the 27 EU countries have lower debt than Germany. The others don't understand why it is put as if Germany is the good guy of the situation surrounded by petty sinners”.
Among the underlying reasons that led Juncker to give up are the different conceptions relating to public debt management which, if it is high, must be reduced not only by taxation, but also with structural reforms and other Community instruments pro-growth.
Relatively to the Eurobonds Juncker recalled how the discussion has continued, now "for a long time: the time has not yet arrived".
