Euro seeks caring country

“EU seeks new formulas to strengthen its currency,” headlines Público ahead of the European Council summit of 16 and 17 December. The Madrid daily reports that the agenda for the meeting of European leaders will focus on harmonisation of fiscal and economic policies, and the bid to renew the foundations of the EU — in particular with regard to the Lisbon Treaty. Concerned by the weakness of the Europe’s monetary union, which has been undermined by “poor political coordination and a total lack of European supervision and integration,” Público ironises that the euro is “a currency in search of a country.” For the Spanish daily, it could be saved by the European Central Bank “if it was given greater powers along the lines of those enjoyed by the American Federal Reserve.”