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
Countries using the Euro de jure Countries and territories using the Euro de facto Countries in the EU not using the Euro (Photo credit: Wikipedia)
By Nikolaus Van Der Pas, Friends Of Europe, September 17, 2012
EU activity resumed after the summer with some good news. ECB President Mario Draghi buoyed markets with a commitment of unlimited purchases of bonds from fragile Eurozone countries; the German Constitutional Court gave the thumbs up to the European Stability Mechanism; Commission President Barroso delivered an ambitious State of the Union speech, and the Dutch voted for pro-European parties, rejecting their nationalistic rivals… (more) http://ow.ly/1muvPY
Brookings: European Banking Union Faces Long Road Ahead – The European Commission’s detailed proposal for a “banking union” marks an importa http://ow.ly/1mqO6P
Council of Foreign Relations: The Role of the European Central Bank – As Europe’s central bank moves aggressively to staunch the continent’s crisis, some critics are aski http://ow.ly/1mpCGn
Council of Europe’s definition of Europe (Photo credit: Wikipedia)
Jean Pisani-Ferry, Project Syndicate, August 31, 2012
Is Europe inventing a new governance model, or has it only taken a detour from the inevitable choice?
August was quieter than feared on the European bond markets. So, while resting on Europe’s beaches and mountains, policymakers could take a step back from the sound and fury of the last few months and think about the future. Is the eurozone sleepwalking into becoming a United States of Europe? Is it exploring uncharted territory? Or are its constituent nation-states drifting apart? (more) http://ow.ly/1me6rt
English: Kemal Dervis, Administrator, United Nations Development Programme (UNDP), during the Annual Meeting 2006 of the World Economic Forum in Davos, Switzerland, January 28, 2006 (Photo credit: Wikipedia)
Kemal Derviş, Brookings, August 30, 2012
Jose Manuel Barroso, Project Syndicate, August 29, 2012
The consequences of Europe’s debt crisis are all too present throughout much of the European Union, as distressed economies attempt to stabilize and grow at the same time. Notwithstanding the important decisions taken over the last couple of years, the reality is that we need to do more to tackle the challenges facing the eurozone… (more) http://ow.ly/1mbPMA
José Manuel Durão Barroso (Photo credit: Wikipedia)
Euro bank notes (Photo credit: Wikipedia)
StratRisks, August 28, 2012
Spanish consumers are pulling their cash out of banks at record levels, according to figures released on Tuesday.
Private sector deposits fell by nearly 5 percent in July to €1.509, the Telegraph reported, citing European Central Bank data, as public confidence in the banking system reached all-time lows amid a worsening economic situation.
Various Euro bills. (Photo credit: Wikipedia)
By Alexa van Sickle, Assistant Editor, International Institute for Strategic Studies, August 28, 2012
‘The euro is irreversible’ – Klaus Regling, head of the European Union’s bailout fund, says the EU is moving in the right direction after its debt crisis, but that Greece’s future in the eurozone depends on its progress in meeting the terms of its bailout… (more) http://ow.ly/1maM1P