Now the ball is in the court of politicians in Berlin and Paris, the Neue Zürcher Zeitung stresses:

“If the monetary union is to be made weatherproof for the next crisis, France and Germany must move closer together. And on this point the reform paper provides valuable suggestions. However, all the ideas won't change the fact that no matter how clever it may be, any rule is only worth as much as the political will to see it through to the end. And in this respect the politicians of the monetary union do not have a good track record at all. For that reason until the reform of the Eurozone has been completed - if it ever is - it would be best if the rules now in effect were adhered to at least partially.”