"You have no sense of urgency," a European pundit said yesterday to the new European Commission. This phrase characterizes the popular feeling that leaders in the euro zone are taking too much time to execute plans and reforms that they announced a long time ago.
Yesterday it was made known that the Summit for Growth and Employment, which Hollande proposed, would have been held next month in Rome will be delayed until an unset future date. Juncker's plan to invest 800 million euros also hangs in the air. The European Central Bank (ECB), once again, is the only organization that can stimulate the economy while the region's leaders stand and watch. There is no excuse for empty rhetoric when we are facing the risk of a third recession.
