Merkel Threatens Greece With European Court of Justice June 6 2012 at 1:17 PM		ups434   (Login Ups434) The Conquerors (Turkey)
Merkel Threatens Greece With European Court of Justice By Stella Tsolakidou on June 5, 2012 in News, Politics Addressing a Social Democratic Union meeting in Berlin yesterday, Chancellor Angela Merkel clarified that Greece is legally bound to stick to the already signed bailout agreements, and reminded the Greek parties that no alteration in the terms and conditions of the Memorandum will be accepted. The German Chancellor also noted that in case Greece does violate the financial agreements, the country would have to appear before the European Court of Justice just like any other country has to do. Moreover, Merkel rejected the EU bond idea as a crisis solution anew but seemed willing to become flexible about the imposition of a new taxation on financial transactions and the measures aiming at boosting growth within the Euro Zone. Merkel insisted that all EU Member-States must give part of their national sovereignty in terms of their national budgets in exchange for development. In this framework, the German Chancellor met with the President of the European Commission Jose Manuel Barroso. The official meeting on the current European affairs is scheduled for June 28 & 29 in Brussels. According to Reuters, Barroso and Merkel also met last Wednesday during the summit of the Baltic Sea Council, where Merkel said that both sides agree that Europes fiscal pact on budget discipline is only the first of many steps toward greater Euro Zone integration and more sacrifices of national sovereignty in the European Union.