Monday, November 14, 2011

Merkel’s CDU Votes to Allow Exits From Euro Area

German Chancellor Angela Merkel’s Christian Democratic Union party voted to offer euro states a“voluntary” means of leaving the currency area.

CDU delegates meeting in the eastern German city of Leipzig for their annual party congress today backed a motion on the euro that included a clause permitting euro exits without exclusion from the European Union. They rejected an amendment that would have sought to change voting at the European Central Bank so that it is weighted according to economic size.