Over the past two weeks, New Europe has maintained that the European Central Bank (ECB) will be the key player in any attempt by politicians to straighten out the Eurozone's debt problems.

The agreement by the 26 EU members excluding Britain to support the Franco-German proposal for extensive changes to the way that the Eurozone functions, with the creation of a much stronger fiscal and economic union, will have critical and positive repercussions in the medium term.

As far as the...

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