Graphic “When Greece falls” presented by Dutch government on 21 June 2011, speaking of European sovereign debt crisis (Photo credit: Wikipedia)
By Ulrike Guérot, European Council on Foreign Relations (ECFR), September 19, 2012:
The third year of the euro crisis might be the most important one yet – and with Germany heading for elections next September things are getting serious. In year one of the crisis (2010), Germany was lost and without a strategy, lurching through the events more than being in control. In year two of the crisis (2011) we observed a subtle U-turn und more decisive actions to safe the euro. But the German strategy was not the ‘big bazooka’, but a step-by-step pragmatic approach which certainly disappointed the Anglo-Saxon world. The strategy may be incomplete and flawed especially with respect to the pro-cyclical and painful effects of austerity policy in the South: but it is also true that we see the first signs of success… (more) http://ow.ly/1mwJBn
German Marshall Fund of the United States, September 18, 2012
In this video, Transatlantic Academy Executive Director Stephen Szabo analyzes the results of the recent Transatlantic Trends Survey that show Germans remain positive about the euro and the EU, despite continuing economic struggles among members.
Friends Of Europe: German top court backs – Germany’s top constitutional court has rejected calls to block the permanent 500 billion euro Europe http://ow.ly/1mpsgu
China Southern Airlines Airbus A319 (Photo credit: Wikipedia)
Friends Of Europe, August 30, 2012
German Chancellor Angela Merkel, accompanied by top ministers and executives of some 20 German companies in the auto, chemical, energy, commodities and other industries, has signed key trade agreements with Chinese Premier Wen Jiabao, including a commitment by China to buy 50 airplanes worth $3.5bn from Europe’s Airbus… (more) http://ow.ly/1mcXec
Article 1 (“Human dignity shall be inviolable.”), sentence 1, of Basic Law for the Federal Republic of Germany, at courthouse in Frankfurt am Main, Germany. (Photo credit: Wikipedia)
Hans-Werner Sinn, Project Syndicate, August 27, 2012
Europe and the world are eagerly awaiting the decision of Germany’s Constitutional Court on September 12 regarding the European Stability Mechanism (ESM), the proposed permanent successor to the eurozone’s current emergency lender, the European Financial Stability Mechanism. The Court must rule on German plaintiffs’ claim that legislation to establish the ESM would violate Germany’sGrundgesetz (Basic Law). If the Court rules in the plaintiffs’ favor, it will ask Germany’s president not to sign the ESM treaty, which has already been ratified by Germany’s Bundestag (parliament)… (more) http://ow.ly/1m9DDu
Brünnhilde the valkyrie. Illustration to Richard Wagner’s Die Walküre. (Photo credit: Wikipedia)
Harold James, Project Syndicate, Aug. 3, 2012
To understand the euro crisis, you obviously need to know about economics. But you also need to know about the deep cultural orientations of European societies.
With the summer holiday season in full swing, it is instructive to look at Europe’s leisure activities. When Europeans play and relax, they produce a counterpart of their financial and economic struggles. It is not just a question of what they do. How they do it – and, above all, who does it – helps to reveal the deep nature of Europe’s difficulties.
English: Various Euro bills. (Photo credit: Wikipedia)
Janis A. Emmanouilidis, Project Syndicate, July 24, 2012
Following the escalation of the euro crisis and decisions taken at the European Union’s last summit, especially EU leaders’ commitment to embark on the road “Towards a Genuine Economic and Monetary Union,” it is high time to ask what comes next. Whatever the final outcome, the current crisis will fundamentally shape the future of European integration. (more) http://ow.ly/1lBsqa
by Heribert Dieter, SWP, July 23, 2012
Since the spring of 2012, the crisis in Europe has been shifting from the former epicenters of Greece, Portugal, and Ireland to Spain and Italy. In particular, the high level of unemployment in Spain has resulted in a choir of demands for increased public spending and a departure from austerity programs. The German government, and especially Chancellor Angela Merkel, is accused of being too stubborn in its demands for more fiscal prudence. American economist Paul Krugman, speculator-turned-philanthropist George Soros, and many others suggest that credit-financed spending would help Spain. In addition, dispatching aid to ailing Spanish banks is considered essential. However, the potential benefits of these policies are not convincing. Credit-financed stimulus programs would weaken the Spanish economy in the long run. On the other hand, large-scale rescue operations for Spanish banks would result in so much collateral damage that continuing on the current austerity path also appears unwise. But before the therapy, the patient’s history ought to be examined: How did Spain – an economic poster child for over a decade – manage to slide into economic calamity? (more) http://ow.ly/1lzJhq
European Union and EFTA European Union European Free Trade Association (Photo credit: Wikipedia)
by James Rogers, European Geostrategy, July 18, 2012
Over recent months there have been several – often well-argued and highly–considered – calls for a new European Security Strategy to be drafted. The argument is put that the European Security Strategy of 2003, now almost a decade old, is outdated and requires redrafting so as to better reflect the new security environment of the second decade of the twenty-first century.
This may come as a surprise to those who regularly read European Geostrategy, but I do not entirely agree with this view, no matter how well-intended it might be. This is why:… (more) http://ow.ly/1lsWvO
English: Economical blocs in Europe (Photo credit: Wikipedia)
by: Jan Techau, Carnegie Institute, Tuesday, July 17, 2012
British reluctance about the European integration process has traditionally been met with much sympathy among non-ideological, pragmatic Europeans on the continent. Even strong supporters of the EU have often harbored a silent admiration for what seemed to be the sturdy, healthy resilience of a stubborn island people suspicious of centralized rule and over-regulated cheese markets. But what once looked like common sense, and a welcome pragmatic counterweight to continental integration dogma, has now turned into dogma itself. Britain has become radicalized. And as always, political radicalization has two sources: weakness—perceived or real—and a misadjusted perception of reality… (more) http://ow.ly/1lqajl