Stock market prices in Europe and much of Asia are buoyed as Merkel and Sarkozy meet in Paris to discuss closer political, economic union. But the stock market in China fall on its worsening economic outlook.
Greece's new leader today submitted a draft budget while Italy has presented an austerity program. But investors are skittish as EU debate rages over how best to address the Europe debt crisis.
With high debt but a primary budget surplus, Italy must enact growth policies to avoid euro crisis, an economist says. Italy's new prime minister may not have much time to enact reforms.
Europe is at a crossroads. Our preoccupation with the fiscal crisis comes at the expense of the broader EU agenda. We must unite to engage citizens and address the pressing issues of foreign policy, energy, immigration, growth and employment, and other ignored priorities.