How odd is this picture? The leader of one country visits the head of state of a neighboring nation to explicitly support the host’s uphill re-election plans — despite the political and diplomatic problems that may arise if …
Germany
For Now, the Eurozone and the Markets Pooh-pooh the Downgrades. But the Long-Term Looms
Modestly positive trading on European stock markets Monday morning appeared to confirm what euro zone leaders had predicted for weeks: that the decision Friday by Standard & Poor’s to cut the credit rating of nine European …
Sarkozy’s Tobin Tax Push: Wooing French Voters and Annoying E.U. Leaders
French President Nicolas Sarkozy has a knack of vexing his European partners—and he’s demonstrated that talent again with his pledge to unilaterally impose a so-called “Tobin Tax” on financial market transactions in France if …
The French on a Credit Downgrade Threat: Pick on Britain
Tis the season—for painful downgrades by credit agencies that is, as Thursday’s move by Fitch targeting six of the world’s largest banks again shows. And indeed, because such action is now so common, the big question …
As the Crisis Refuses to Calm, Scenarios of Euro Collapse Appear
Despite the distracting political drama over the UK’s outlier rejection at last week’s European Union agreement on fiscal and budgetary coordination, it’s now become clear that main objective of the collective effort–to ensure …
Not So Great, Britain: After E.U. Summit, U.K. Drifts Toward Isolationism
“Mommy, daddy, where were you when Britain left Europe?” David Cameron’s deployment in the early hours of Dec. 9 of the British veto over a Franco-German plan to save the euro will be seen as a pivotal moment by future …
Crunch Time for the Euro and Europe: Taking Note of the Elephant
Elephant, meet room.
Doubt and despair returned to Europe by Tuesday despite positive reaction a day earlier to the French-German proposals to save the teetering euro. The reason? The pachyderm in the room that markets see all …
Is Sarkozy and Merkel’s New Debt Proposal The Beginning of The End To The Euro Crisis?
The details of the campaign by France and Germany to save the euro became a little clearer Monday though substantial questions about it remain as the week winds toward a European Union summit on the euro crisis summit on Friday. …
No New Action On Euro Crisis As Leaders Agree To Disagree
Observers weren’t expecting much from the mini-summit Thursday in Strasbourg, France, where French President Nicolas Sarkozy, German Chancellor Angela Merkel, and Italian leader Mario Monti met to discuss Europe’s dire debt crisis. Such lowered expectations proved well-founded. Because even as the situation threatening the …
Whither the European (Dis)Union?
Is significantly greater integration the surest way to prevent both the euro and even the entire European Union from blowing apart? Or is EU federation–and the basic powers national governments now wield being weakened in the process–exactly the kind of radical fusion certain to send countries jealous of their sovereignty fleeing …
Europe’s Debt Tragicomedy: Horror Show Turns Into Shambolic Farce
There are occasions when even the scariest of movies will push the atmosphere of dread, danger, and doom a bit too far, and leave the scenario of improbable horror and panic feeling just stupid. That moment has arrived in Nightmare On Euro Street, as people who watched Europe’s escalating crisis through their fingers in terror begin …
Greek Referendum Threatens EU Debt Accord Ahead Of Crucial G20 Summit
As predicted, the relief and relative calm produced by the Oct. 27 agreement between European Union leaders battling the tightening euro zone debt crisis didn’t last long. Markets just aren’t ready to do with the fruits of optimism when there’s still so much to be made from low-hanging pessimism. Less expected, however, were …
Could an Ultimatum from Nicolas Sarkozy Resolve the European Debt Crisis?
The European debt crisis has reached its chiche moment—or what should be its chiche moment. That’s chiche, the French for “I dare you”, “I’m calling your bluff”, or even “make my day”—something often used in situations that somehow seem too formidable or fearsome to simply give in to without an audacious (albeit …