Westerwelle opens book fair, calls for EU renegotiation

Oct 11, 2011, 17:51 GMT

Frankfurt - German Foreign Minister Guido Westerwelle inaugurated the Frankfurt Book Fair on Tuesday and at the same time called for renegotiation of eurozone treaties to permit automatic punishment of debt offenders.

The Book Fair, the world's biggest book publishing congress and new product show, opens its doors on Wednesday for a five-day run.

'We must toughen up the Stability Pact in the direction of automatic sanctions,' said Westerwelle, referring to the Stability and Growth Pact (SGP) among the 17 member states of the European Union that use the euro currency.

'Solidarity and soundness go together. Nations that want to rely on the safety net will have to concede binding disciplinary rights at the European level over their budgetary decisions.

'An alteration in the European treaties would be the clearest way of establishing this new binding character in budgetary policy,' he said, calling for the 'weaknesses' of the original Maastricht stability pact to be fixed.

Westerwelle called on the EU to summon a convention of governments and parliaments to negotiate the changes.

The Book Fair is to feature 7,384 exhibitors and give a place of honour to Iceland, organizers said as finishing touches were put to the booths and pavilions and books were unpacked Tuesday afternoon.

About 100 nations are represented at the event, where publishers bargain with agents and one another for translation rights while taking the pulse of an industry that has been shaken by the advent of the internet.

The fair organizer, the Boersenverein, or federation of German publishers and booksellers, said registrations this year were down by 155 from a year ago and industry figures were mainly likely to discuss new digital-style opportunities.

While textbooks and non-fiction make up a main part of the books on display in publishers' booths, many of the 280,000 visitors expected from Wednesday until Sunday will be hoping to glimpse famous novelists and poets visiting the city to promote their books.

Every year, one nation is granted special guest status and sets up an exhibition to show off its literary achievements.

Iceland's government has flown 38 authors to Frankfurt to promote modern literature from the nation, which has a population of only 320,000. Organizers say its native book output makes Iceland one of the world leaders in per-capita terms.

Referring to Icelandic fiction and non-fiction, the country's President Olafur Ragnar Grimsson said, 'Iceland's presentation as guest of honour in Frankfurt shows that even the smallest garden can give the world beautiful flowers and useful vegetables.'

Westerwelle praised Iceland for fixing its economy after the collapse of 2008 and for applying for European Union membership.