Wall Street Journal
April 17, 2013
German Finance Minister Wolfgang Schaueble effectively torpedoed Europe’s plan for joint banking supervision over the weekend, raising further doubts about Germany’s commitment to the euro.
While Chancellor Angela Merkel has called for “more Europe” — the banking union as well as closer fiscal and political integration — her hatchet man Schaueble systematically obstructs progress toward these goals.
At the end of the European Union finance ministers meeting in Dublin this weekend, Schaueble insisted that a revision of the EU treaties would be necessary to proceed with the banking union, which officials had previously agreed was absolutely essential to underpinning the common currency.