Euro-Area ‘Family’ Can’t Eject Members, Germany’s Kampeter Says

Euro-area states can’t be thrown out of the “family,” said German Deputy Finance Minister Steffen Kampeter, rowing back from the government’s earlier stance that ejection should be possible to deter against excessive deficits.

Europe is much more than a “technical assembly,” Kampeter said in a Bloomberg Television interview in New York yesterday. “The biggest misperception is to understand Europe just as an economic project -- it’s a political project, like the United States.”