The German idea of binding economic reform contracts in return for yet-undefined funding has been pushed back until October 2014, as other EU leaders either opposed or did not fully understand the concept.
"I am convinced that more economic coordination is important for the markets. It's about the credibility of the eurozone. We discussed it a lot, but to be honest there is still more work to be done on this," Chancellor Angela Merkel said in a press conference after the first EU summit...
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