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Hospodárske noviny - Slovakia | Friday, March 2, 2012

Summit of false satisfaction

The heads of state and government of the 27 EU countries seemed all too self-satisfied as the EU summit kicked off on Thursday, according to the business paper Hospodárske noviny: "Everything is fine: Europe is calmer, the Greek problem has been solved, the Euro firewall is being raised higher, the fiscal compact doesn't have to be signed by all the states. The rejection of the pact by the UK and Czech Republic is being tolerated, and the same goes for the Irish referendum. In Italy it sufficed to replace Berlusconi with Monti for everyone to practically forget what a huge mountain of debt the country is saddled with. The collective downgrading of a number of European countries by the rating agencies, as well as the continuing problems of Greece, Portugal and Spain, are being ignored. The voices of protest on the street are not penetrating to the conference hall. Everything the EU has produced in recent times is just wonderful. But most of it exists only on paper."

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