ECOFIN: like Romeo and Juliet 

ECOFIN: like Romeo and Juliet

by Valentina San Martin

IMG_2983After the 2008 financial crisis, the European Union experienced a great chaos especially in the economic and financial fields. From that moment on, two big nations slowly started to disagree with each other; this was the beginning of great rivalries. One situated in the south, the other in the north – one being outgoing and impulsive, the other one being strict and organized – one being the cradle of famous philosophers such as Kant or Nietzsche and the other one being the birth place of Socrates and Plato. 

In other words, Germany and Greece have always been totally opposed, until a recent romantic twist. To every nation’s surprise, it seems that the two countries decided to burry the hatchet and to live their mutual love in the open in spite of potential disagreements… IMG_2976

Indeed, they both agreed on an initiative to create a more stable and safer financial sector for the European Single Market called: The Banking Union. For the various nations who would potentially agree on this project; an EU-level banking supervision and resolution system would operate on the basis of EU common rules. By doing so, The Banking Union would ensure the reliability and safety of EU banking sectors, and resolve any interventions and non-viable banks issues without having recourse to taxpayers’ money. 

Finally, the impossible comes true, cold Germany and warm Greece are willing to build Europe’s economical future together. This is somehow reminiscent of another well-known Italian love story written by Shakespeare… 

Nevertheless, let’s not forget what happened to Romeo and Juliet at the end of the tale. Since they were not able to communicate appropriately, both of the protagonists actually committed suicide.  

So, hopefully, the project that the two countries are now agreeing on will not fail because of a trivial confusion during the committee sessions.  

To be continued…

(c) Valentina San Martin for the MILMUN Chronicle

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