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March 26, 2010

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European leaders have launched an audacious bid to create an ‘economic government of the EU’ – even as they were forced to go cap in hand to the International Monetary Fund for a £20 billion bailout of debt-stricken Greece.

In an extraordinary joint statement the EU’s two powerhouses France and Germany called for the EU to be handed sweeping powers over economic policy.

They called for ‘strong co-ordination of economic policies’ across the EU – including countries like Britain which are not in the euro.

And they suggested the creation of an ‘economic government of the EU’ headed by Herman Van Rompuy, the obscure Belgian federalist who was plucked from obscurity last year to become the EU’s first president.

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