EUROPE - European leaders agreed to press on with further steps to shore up their finances and sustain momentum in tackling the debt crisis on Friday, a day after clinching a deal on banking supervision and approving long-delayed aid to Greece. After more than eight hours of late-night talks at a summit in Brussels, leaders promised to push ahead with setting up a mechanism to wind down problem banks, although it was unclear when the facility would be completed. They also launched tentative discussions on how to make countries stick to economic targets and on creating a "solidarity fund" to help member states suffering one-off economic shocks, but did not delve deeply into either issue, pushing the debate out to the middle of next year.
This development is most significant!
December 2012 - timeline
3rd December - The Pope's speech – calling for a reform of the European financial system, and for countries to give up part of their sovereignty to a central power in the common good.
7th December - German President Gauck Meets With Pope Benedict. In talks behind closed doors, the topic of conversation switched between politics and religion. The discussion centered on the impact of the economic crisis, and the role of the church and Germany within Europe.
It would seem that the Pope's advice is being taken seriously! Keep in mind that it is Germany that controls the ‘purse strings’...
13th December - European finance ministers reach a deal on rules for supervising eurozone banks - a key step towards banking union. This would involve participating nations giving up a part of their sovereignty.
14th December - EU leaders promise further steps to quell crisis
The big question is who is in really control – Europe – Germany or the Roman Catholic Church?
The answer is: ‘who started the ball rolling’?