Quinn: Paris and Berlin 'not calling the shots'

Education Minister Ruairi Quinn has said that the Taoiseach needs to make it clear to the German and French leaders that they won't be allowed to "call the shots" with regard to resolving the eurozone debt crisis.

Minister Quinn was reacting to yesterday's proposals to strengthen the governance of the eurozone.

"They (Merkel and Sarkozy) have to be told in no uncertain terms that this is a European problem and it has to be solved at a European level," Minister Quinn said.

"The 'old firm' of the Franco-German alliance is no longer calling the shots exclusively."

The European Commission is welcoming the Sarkozy-Merkel proposals, which include the creation of a new eurozone 'economic government', to meet twice a year and to be led by EU President Herman Van Rompuy.

EC President Jose Manuel Barroso and Economic Commissioner Olli Rehn in a statement earlier said that the economic difficulties in the eurozone show the need for closer coordination of economic policy.

European market investors have however reacted with disappointment after the emergency summit failed to offer an immediate solution to the eurozone debt crisis.

European Commission Spokesman Olivier Bailly said stronger economic cooperation has long been a goal for the Commission.

"On the 10th anniversary of the euro in May 2010 we already mentioned the need to strengthen the economic part of the economic and monetary union," he said.

"What is happening now… and what was announced yesterday… go exactly in this direction.

"So this is why the Commission is fully supporting the objective and the proposals that were put forward yesterday."