Merkel and ECB

It's increasingly taking shape the possibility of an agreement within the eurozone countries that assigns powers to the EU to put veto on the proposed budget policies of individual member countries.
This would be a change in the Treaties of the European Community, which appears to have been revived (guess what ) by Angela Merkel, backed by its Minister of Finance Scheuble. In December she had spoken about it, but then the proposal was rejected as highly damaging to the internal sovereignty of individual states. Now the situation has changed, and it becomes a matter of survival of the euro.  In practice, according to some analysts, it would be the antechamber of the much-sought fiscal union among the member countries.
The Wall Street Journal published a lucid analysis about it. The U.S. financial newspaper comes to the conclusion that if Merkel got the promises in regard to this change in the Treaty, it could also give the green light to the long awaited massive intervention of the ECB on the bonds of countries at risk. The Central Bank has, as has always been said, the means to buy government bonds on the market, support prices and reduce the increase in interest rates generated by the intervention of speculation. So far it has done only in a limited way, however, to force the countries in crisis to resolve their problems internally, but in reality the negative opinion by the Germans to these open market monetary operations has always had a big impact.
However, if the intervention was limited temporally in anticipation of changes in the Treaties, Merkel would also approve the practice, bringing a little breathing  to the European capital markets.