Open manoeuvres to sidestep democracy!
The German parliament is due to vote on a 21 July agreement to increase the facility's capacity to €440 billion, which has already angered some German lawmakers, particularly on the right of Chancellor Angela Merkel's ruling coalition.
While its approval seems likely with the help of opposition parties, Merkel is lobbying hard to see the legislation passed with the votes of her coalition to send a strong message about its unity.
"Once this result is in, and we hope that it will be a positive result, we are going to make proposals to step up the fight against speculative attacks against the eurozone," Fillon told lawmakers during a question and answer session at the lower house of parliament.
"We have a moral obligation to defend Europe, because Europe is our common future and to defend Europe we have to increase the financial credibility of our country," he said, adding that a bill on France's 2012 budget due to be presented on Wednesday would aim to do that.
Speculation that the eurozone's rescue fund could be beefed up by leveraging it has lifted stocks battered after weeks of concerns that Europe's debt crisis is getting out of control.
Labels: EU tyranny
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