"The European adventure is now entering more troubled waters. The Competitiveness Pact presented by the German government means, finally, the recognition that the eurozone crisis requires not just ad hoc but a more systemic solution. At the heart of this Pact, there is a very simple idea: if you want a stronger solidarity mechanism to deal with sovereign default, you need to accept more coordination and even convergence of fiscal, economic and social policies in the euro zone.

If it wasn't a direct attack, it appeared to be. On Tuesday (15 February), MEPs and the European Commission strongly criticised the method now used twice used by France and Germany to reform the rules for the eurozone countries.

Last October, Paris and Berlin suggested a revision of the EU Treaties and, less than four months later, proposed a 'competitiveness pact' aimed at increasing the convergence of member states that use the euro.

At a meeting today (17 February) in Paris, finance ministers preparing for the G20 reunion later this year will consider adding the Chinese yuan to a basket of reserve currencies to rival the dominance of the dollar, according to an internal paper seen by EurActiv.

'Special Drawing Rights', as they are known, are comprised of a fixed amount of widely traded currencies, including the dollar, but also the Japanese yen, the British pound and the euro. They are traded through the International Monetary Fund.

Markus Kerber ist Professor für Öffentliche Finanzwirtschaft und Wirtschaftspolitik an der Technischen Universität Berlin.

Gemeinsam mit dem Think-Tank Europolis legte er Verfassungsbeschwerden gegen den Lissabonvertrag, die Griechenlandhilfe und den Rettungsmechanismus der Eurozone, der Europäischen Finanzstabilisierungsfazilität (EFSF), ein.