07 SEP 2010
By James G. Neuger
European Union governments sought to strengthen the management of the euro region as Germany warned that the economic rebound is slowing its push for stiffer sanctions on high-deficit countries.
EU finance ministers weighed ideas for improving national budget management, monitoring countries at risk and imposing sanctions on rule-breakers, EU President Herman Van Rompuy said in a statement last night after leading a brainstorming session in Brussels.
“We agree on the need to have credible sanctions,” EU Economic and Monetary Affairs Commissioner Olli Rehn said. “It’s a bit like a football game. It won’t work if the players start to discuss and argue the rules of the game with the referee every time they commit a foul.”