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Ways out of the debt crisis


The Eurozone countries have agreed on a second, 130-billion-euro bailout package for Greece and signed a fiscal pact with other EU countries. The press discusses how much budgetary discipline is called for and who will foot the bill in the end.



Phileleftheros - Cyprus | Tuesday, 13. November 2012

Only talks with troika can save Cyprus now

Nicosia has expressed satisfaction with the commencement of new talks with the troika of lenders, the EU Commission, the ECB and the IMF. Progress had been made in the negotiations on a bailout programme, the Cypriot Ministry of Finance announced on Friday. The liberal daily Phileleftheros believes that only help from the troika can get Cyprus out of the crisis and rejects any criticism of the plan: » more


Diário de Notícias - Portugal | Tuesday, 13. November 2012

Merkel arouses expectations in Portugal

German Chancellor Angela Merkel stressed during her visit to Lisbon that there was no reason to renegotiate Portugal's austerity programme at present. This has aroused certain expectations, the liberal daily Diário de Notícias notes: » more


Diário Económico - Portugal | Tuesday, 6. November 2012

EU can't take any more of Merkel's austerity

German Chancellor Angela Merkel does not see the euro crisis coming to an end within the next five years. Now the time for more discipline has come, she said on Saturday at a regional conference of her party, the Christian Democrats. The liberal business paper Diário Económico calls on Merkel to assume her responsibilities towards Europe: » more


Corriere del Ticino - Switzerland | Tuesday, 6. November 2012

France could be Europe's undoing

Louis Gallois, former head of the aerospace and defence corporation EADS, on Monday presented a report on France's competitiveness in which he calls for the country to be given shock therapy to prevent it from lapsing into an enduring crisis. If François Hollande deviates from the austerity course all Europe will suffer, the liberal daily Corriere del Ticino warns: » more


Welt am Sonntag - Germany | Sunday, 4. November 2012

For Holger Schmiedling is the euro just going through puberty

Despite the crisis the euro is a good currency not least because of its role in imposing discipline, writes economist Holger Schmiedling in the conservative weekly Welt am Sonntag: » more


Main focus of Friday, 19. October 2012

EU reaches compromise on banking supervision

At the EU summit the heads of state and government last night agreed on a rough schedule for setting up Eurozone banking supervision. The supervisory ... » more


Handelsblatt - Germany | Friday, 19. October 2012

Berlin delays banking supervisory authority

Even if there a rough timetable for the banking union now exists, the EU summit leaves many questions unanswered, the liberal business daily Handelsblatt comments: » more


ABC - Spain | Friday, 19. October 2012

Merkel puts re-election before Europe

German Chancellor Angela Merkel has got her way regarding the schedule for the creation of a banking union. The project now won't be launched on January 1, 2013, as France and other countries had hoped. The conservative daily ABC accuses Merkel of selfish strategising ahead of the German elections next year: » more


Il Sole 24 Ore - Italy | Friday, 19. October 2012

No banking union without fiscal union

Participants at the EU summit are reluctant to come out say what a banking union actually entails, the liberal-conservative business paper Il Sole 24 Ore criticises: » more


Main focus of Thursday, 18. October 2012

Paris on collision course with Berlin

In an interview with six European newspapers French President François Hollande called for more solidarity in the Eurozone. With his appeal for the introduction of ... » more


Público - Portugal | Thursday, 18. October 2012

Crisis countries must be grateful to Hollande

François Hollande stressed in his interview that "we cannot impose a life-long sentence on nations which have already made considerable sacrifices if people do not perceive the fruits of their efforts". The liberal daily Público praises the French president for these words: » more


Die Zeit - Germany | Thursday, 18. October 2012

Europe does not need more rules

Schäuble's proposal for a currency commissioner who would control the budgets of the euro states is as idealistic as it is illusory, the liberal weekly ... » more


Le Figaro - France | Wednesday, 17. October 2012

French solidarity against German control

Given that French President François Hollande's ideas run counter to the German position, the conservative daily Le Figaro doubts that an agreement will be reached at the EU summit: » more


Die Presse - Austria | Thursday, 18. October 2012

The helpless hopping of the euro's rescuers

The EU's crisis policy looks increasingly like a game of hopscotch and is frustrating the people, the liberal-conservative daily Die Presse writes: » more


Jyllands-Posten - Denmark | Thursday, 18. October 2012

Time for action running out

The EU summit that begins today won't produce the urgently needed results, the liberal daily Jyllands-Posten believes: » more


Main focus of Wednesday, 17. October 2012

Schäuble demands more power for the EU

German Finance Minister Wolfgang Schäuble plans to propose in-depth reforms of the EU at its summit meeting, which begins on Thursday. Among other measures he ... » more


Trouw - Netherlands | Wednesday, 17. October 2012

Northern Europe won't play along

Schäuble's initiative is a counterconcept to EU Council President Herman Van Rompuy's plan for stronger economic integration of the EU, which the German finance minister considers too vague. But for the Christian-social daily Trouw Van Rompuy's calls for centralised bank supervision, debt mutualisation and the Eurozone to have its own budget go too far: » more


Die Presse - Austria | Wednesday, 17. October 2012

More elbow room for Merkel

Just days before the EU summit takes place Germany's Finance Minister Wolfgang Schäuble has decided to play with fire, the liberal-conservative daily Die Presse comments, adding that his bringing up his old idea of an EU currency commissioner again was just a ploy: » more


Il Sole 24 Ore - Italy | Wednesday, 17. October 2012

Tranquiliser for the Germans

Schäuble is not just after a broad fiscal union; MEPs from the Eurozone should also be able to make separate decisions in the EU Parliament having to do with the Eurozone. German Finance Minister Wolfgang Schäuble is pursuing a double strategy with his proposals, the liberal-conservative business paper Il Sole 24 Ore conjectures: » more


Süddeutsche Zeitung - Germany | Wednesday, 17. October 2012

Challenge to Brussels, London and Karlsruhe

With his proposal the German Finance Minister Wolfgang Schäuble is deliberately seeking a confrontation with the EU, the UK and the German Constitutional Court, the left-liberal daily Süddeutsche Zeitung writes: » more


eldiario.es - Spain | Thursday, 11. October 2012

So far the crisis was just a foretaste

The real crisis is only just beginning in Spain, Ignacio Escolar fears in his blog with the left-leaning online newspaper eldiario.es: » more


Trouw - Netherlands | Thursday, 11. October 2012

Iron austerity is dangerous

The IMF's warning that a rigorous austerity course could harm the global economy must be taken seriously, the Christian-social daily Trouw writes: » more


Tages-Anzeiger - Switzerland | Wednesday, 10. October 2012

Europe's crisis policy is madness

The IMF has made a devastating assessment of the Eurozone's financial stability. Hardly surprising, says the liberal Tages-Anzeiger, because Europe is seeking a solution to the euro crisis that is impracticable: » more


Handelsblatt - Germany | Wednesday, 10. October 2012

The onus is on the Europeans

For the IMF, the euro crisis has become a catch-22 situation, the liberal daily Handelsblatt writes: » more


Der Standard - Austria | Wednesday, 10. October 2012

New transaction tax based on minimal consensus

Eleven EU states plan to jointly introduce a tax on financial transactions, the EU Commissioner for Taxation Algirdas Šemeta announced after consultations with the finance ministers of the EU on Tuesday in Luxembourg. However for now the project doesn't go far beyond good intentions, the left-liberal daily Der Standard concludes: » more


Les Echos - France | Monday, 8. October 2012

Europe's lethargy will cause next recession

According to three leading European economic institutes, the economy of the Eurozone will shrink until the end of the year and stagnate in the first two quarters of 2013. The liberal business paper Les Echos writes that the euro countries should finally take concerted action to fight the crisis: » more


The Irish Times - Ireland | Monday, 8. October 2012

Only a haircut will get Ireland out of crisis

Only debt relief can ensure economic recovery for crisis-stricken Ireland, the left-liberal daily The Irish Times stresses: » more


Diário Económico - Portugal | Friday, 14. September 2012

Consensus in Portugal crumbling

Portugal's Socialists are no longer prepared to back the new austerity measures. The main opposition party announced on Thursday that it would vote against the proposed budget for 2013. The liberal business paper Diário Económico voices annoyance at the carelessness with which the government has lost a broad consensus on the austerity package: » more


NRC Handelsblad - Netherlands | Friday, 14. September 2012

Europe triumphs in parliamentary elections

Europe has emerged as a winner from the Dutch parliamentary election, the liberal daily NRC Handelsblad writes: » more


Frankfurter Rundschau - Germany | Friday, 14. September 2012

Crisis doesn't topple every government

Lessons can be learned from the re-election of right-wing liberal Dutch Prime Minister Mark Rutte, the left-liberal daily Frankfurter Rundschau comments: » more


Il Sole 24 Ore - Italy | Friday, 14. September 2012

Growth package can help Italy beat recession

Italy's gross domestic product dropped by 0.8 percent from April to June, meaning that the economy contracted for the fourth quarter in a row, as the statistics office Istat announced on Monday in Rome. To fight the recession Italy must pass a stimulus package in addition to reducing its debts, the liberal-conservative business paper Il Sole 24 Ore warns: » more


Cinco Días - Spain | Friday, 14. September 2012

Dutch remain eurosceptical

Following the parliamentary elections in the Netherlands a grand coalition between the pro-European right-wing liberals and Social Democrats seems to be taking shape. But this return to pro-Europeaness is not necessarily a long term development, the left-liberal business paper Cinco Días warns: » more


Die Presse - Austria | Friday, 14. September 2012

Wilders frightens away his voters

Right-wing populist politician Geert Wilders' was unable to convince the Dutch with his anti-EU rhetoric, the liberal-conservative daily Die Presse writes: » more


ABC - Spain | Thursday, 13. September 2012

The euro becoming more and more German

Germany has too much power over the single currency, the conservative daily ABC warns, but praises the judges in Karlsruhe for indirectly counteracting this imbalance: » more


Ta Nea - Greece | Saturday, 8. September 2012

Petros Markaris on Europe after the euro

The Greek writer Petros Markaris says he can't understand why politicians are clinging to the euro, pointing out that Europe existed before the single currency. In the left-liberal daily Ta Nea he paints a picture of what Europe could be like in the post-euro era: » more


El Mundo - Spain | Thursday, 6. September 2012

Merkel should not abuse her power in Madrid

German Chancellor Angela Merkel will meet her Spanish counterpart Marian Rajoy for talks in Madrid today. She shouldn't abuse her vast power, the conservative daily El Mundo advises: » more


Le Monde - France | Wednesday, 5. September 2012

Habermas, Nida-Rümelin and Bofinger call for Europe's political integration

Three renowned German thinkers, the philosophers Julian Nida-Rümelin and Jürgen Habermas and economist Peter Bofinger, call in the left-liberal daily Le Monde for the political integration of Europe: » more


Main focus of Tuesday, 4. September 2012

Hollande in a tight spot

The high-level visits between Europe's leaders continue apace as France's President François Hollande travels to Rome today to discuss the debt crisis with Prime Minister ... » more


Frankfurter Allgemeine Zeitung - Germany | Tuesday, 4. September 2012

Hollande doomed to disappoint

In the vote on the European fiscal compact slated for the beginning of October in the French parliament, President Hollande faces the problem that not all the left-wing parliamentarians back him, notes the conservative Frankfurter Allgemeine Zeitung, saying there is little chance of a united Left front emerging in France: » more


El País - Spain | Tuesday, 4. September 2012

Manuel Sanchis i Marco calls on Germany to fight for Europe

It is in Germany's own interests to seek a swift solution to the euro crisis, economist Manuel Sanchis i Marco points out in the left-liberal daily El País: » more


La Repubblica - Italy | Tuesday, 4. September 2012

Domestic policy burdens Rome-Paris axis

Political expert Marc Lazar sees today's crisis meeting between Hollande and Monti in Rome as a chance to strengthen the Rome-Paris axis. But both have their own domestic problems to wrestle with, Lazar writes in the left-liberal daily La Repubblica: » more


Le Figaro - France | Tuesday, 4. September 2012

Paris shouldn't look to Southern Europe

France is torn between the northern and southern European identities, and President Hollande is on the verge of opting for the wrong side, the conservative daily Le Figaro criticises: » more


Público - Portugal | Friday, 31. August 2012

Tricky privatisations in Portugal

Prompted by the sovereign debt crisis Portugal's government on Thursday announced plans to privatise its airport company Ana and the state-owned airline Tap. The liberal daily Público calls on Lisbon to adopt a sensible approach in this process: » more


Süddeutsche Zeitung - Germany | Thursday, 23. August 2012

Samaras opens final act in euro drama

Europe is facing what are perhaps the most important weeks in its recent history, the left-liberal daily Süddeutsche Zeitung writes and calls on all parties to close ranks: » more


El País - Spain | Thursday, 23. August 2012

Berggruen, El-Erian und Roubini on Europe's impending cardiac arrest

Financial investor Nicolas Berggruen, Pimco CEO Mohamed A. El-Erian and economist Nouriel Roubini warn in the left-liberal daily El País of the consequences of an uncontrolled collapse of Europe's single currency: » more


The Irish Independent - Ireland | Wednesday, 22. August 2012

Ireland's downward spiral continues

The bursting of the real estate bubble in 2009 continues to have dramatic repercussions for the Irish economy and there is still no sign of light at the end of the tunnel, writes the conservative daily the Irish Independent: » more


La Stampa - Italy | Wednesday, 22. August 2012

Italy's politicians have forgotten how to govern

The rating agency Moody's said in a report on Tuesday that the crisis countries of the Eurozone have made progress with their structural reforms. But Italy's politicians are wasting valuable time under the transitional technocratic government with their pointless banter, the liberal daily La Stampa criticises: » more


WOZ - Die Wochenzeitung - Switzerland | Thursday, 16. August 2012

Politicians accept youth unemployment

According to recent Eurostat figures, on average almost a quarter of European youths aged between 15 and 24 are unemployed. In Greece and Spain that figure rises to over 50 percent. Business-friendly politicians are willing to accept such mass youth unemployment, the left-leaning weekly newspaper WOZ writes: » more


Jornal de Negócios - Portugal | Tuesday, 21. August 2012

Portugal's prime minister makes risky prognoses

Since returning from his summer holidays Portuguese Prime Minister Pedro Passos Coelho has repeatedly stressed that Portugal will emerge from the recession in 2013. The business paper Jornal de Negócios warns about the dangers of risky prognoses: » more


Savon Sanomat - Finland | Tuesday, 21. August 2012

Two Eurozones unlikely

The right-wing populist Finnish opposition politician Timo Soini sees the splitting up of the Eurozone into two parts, a northern and southern one, as inevitable. The liberal daily Savon Sanomat doesn't believe in such a scenario: » more


De Tijd - Belgium | Thursday, 16. August 2012

Idle government sends Belgium into crisis

With a negative growth of 0.6 percent, the Belgian economy shrank three times faster than expected in the second quarter of this year. The country now figures among the weak performers of the Eurozone along with Spain and Italy. The country's inactive government is mainly to blame, writes the business paper De Tijd: » more


Diário de Notícias - Portugal | Wednesday, 15. August 2012

Now growth in sight for Portugal

Portugal and other crisis countries in southern Europe are particularly hard hit by recession, and the German economy is no longer capable of curbing recession in the Eurozone, the liberal-conservative daily Diário de Notícias comments: » more


La Repubblica - Italy | Wednesday, 15. August 2012

Eurozone is at the mercy of Constitional Court

Despite a new complaint filed by eurosceptics against the ESM bailout mechanism, Germany's Constitutional Court plans to stick to its current schedule and announce its decision on the conformity of the new rescue fund with the German constitution on September 12. This is good news but doesn't change the fact that the Constitutional Court is holding the Eurozone hostage, the left-liberal daily La Repubblica comments: » more


Il Sole 24 Ore - Italy | Wednesday, 15. August 2012

Crisis also hits Europe's core states

While according to figures released by the European statistics agency Eurostat on Tuesday the Eurozone is approaching a recession, in France economic growth is merely at zero and Germany has registered moderate growth. But these exceptions are no cause for optimism, the liberal-conservative business paper Il Sole 24 Ore writes: » more


Nachdenkseiten - Germany | Wednesday, 15. August 2012

Export nation Germany fans euro crisis

According to a forecast by the Ifo Institute published on Monday, Germany will register the world's biggest export surplus, at 210 billion dollars. But this is no cause for celebration, writes Jens Berger on his blog Nachdenkseiten, because in the long term the country is digging its own grave: » more


Neue Zürcher Zeitung - Switzerland | Wednesday, 15. August 2012

Baltic is proof that austerity helps

The risk of a prolonged recession above all comes from the countries of Southern Europe, which are in dire need of structural reform, the liberal-conservative daily Neue Zürcher Zeitung contends, praising the reform efforts in the Baltic region: » more


The Economist - United Kingdom | Tuesday, 14. August 2012

ECB's inflation policy is wrong approach

The inflation policy of the European Central Bank is also to blame for the impending recession in the Eurozone, Ryan Avent argues in the blog of the liberal weekly The Economist: » more


Jornal de Negócios - Portugal | Monday, 13. August 2012

Cutting pay helps Portugal's economy

Since the beginning of Portugal's adjustment programme prescribed by the troika incomes have gone down by an average of 30 percent owing to cuts in social benefits and changes to labour laws. Nonetheless the ECB is right to expect further measures aimed at lowering labour costs, the liberal business daily Jornal de Negócios writes: » more


ABC - Spain | Friday, 10. August 2012

Five years of crisis sully politicians' image

Five years after the outbreak of the international financial crisis the politicians still haven't got the situation under control, the conservative daily ABC writes, recalling August 9, 2007, the day the crisis began with the announcement that the French bank BNP Paribas was in trouble: » more


Politis - Cyprus | Thursday, 9. August 2012

For Giorgos Tzivas Cypriots only have themselves to blame for the crisis

Columnist Giorgos Tzivas writes in the liberal daily Politis that Cyprus's woes are not due to the crisis but to people's consumer habits and their inability to distinguish between what is needed and what is superfluous: » more


To Vima Online - Greece | Thursday, 9. August 2012

Giorgos Malouchos criticises Berlin's dream of domination

Former German chancellor Helmut Schmidt said on Tuesday in a talk show that the Germans cannot lead Europe because of their Nazi past. In saying this Schmidt summed up Berlin's true ambitions, writes columnist Giorgos Malouchos in the left-liberal online paper To Vima: » more


Tvnet - Latvia | Wednesday, 8. August 2012

Otto Ozols believes in a Europe that can beat crises

Despite the ongoing euro crisis Europe must continue to believe in its strengths, writes journalist Otto Ozols on the web portal tvnet.lv: » more


Diário Económico - Portugal | Tuesday, 7. August 2012

Investors getting rich with Portuguese bonds

Portuguese bonds are currently Europe's most popular government bonds, according to the Bloomberg and European Federation of Financial Analysts Societies indexes. So far this year they have generated 28 percent yields. This is above all thanks to the government's reforms, writes the liberal business paper Diário Económico: » more


Financial Times Deutschland - Germany | Tuesday, 7. August 2012

Shell's fears in the euro crisis unfounded

The British-Dutch oil company Shell wants to transfer up to 15 billion dollars from Europe to the US, among other destinations, for fear of losses due to the euro crisis, as Simon Henry, Shell's Chief Financial Officer, told the daily newspaper The Times on Monday. An alarmingly candid warning signal, writes the business paper Financial Times Deutschland, even if objectively there is no reason for the move: » more


Hospodárske noviny - Slovakia | Monday, 6. August 2012

Draghi tangles with Germany

The head of the European Central Bank, Mario Draghi, came in for massive criticism on the weekend - particularly in Germany - over his propoals for a greater role for the ECB in the euro bailout. And it's no wonder, writes the business paper Hospodarske noviny: » more


Ependytis - Greece | Sunday, 5. August 2012

Europe takes a break from the crisis

The business paper Ependytis is surprised to see how passively the leaders of the Eurozone are behaving this month even though the future of the Monetary Union is at stake: » more


Main focus of Friday, 3. August 2012

Draghi disappoints crisis countries

The ECB will buy the bonds of crisis-stricken state only if they apply for assistance from the euro bailout bond and fulfil the conditions that ... » more


Diário Económico - Portugal | Friday, 3. August 2012

Declarations of love for euro not enough

It was dishonest of Draghi not to make good on what he had pledged last week, in the eyes of the liberal business paper Diário Económico: » more


De Tijd - Belgium | Friday, 3. August 2012

Drahi makes a major blunder

With his catastrophic communication policy Draghi has gambled away the ECB's credibility, the liberal daily De Tijd criticises: » more


De Groene Amsterdammer - Netherlands | Friday, 3. August 2012

Frank de Vree on the power of ominous crisis rhetoric

For two years now politicians, the media and economists have been warning of the collapse of the euro. But how bad is the situation in reality, asks the Amsterdam professor of media science Frank de Vree in the left-leaning weekly De Groener Amsterdammer: » more


Corriere della Sera - Italy | Friday, 3. August 2012

Euro bailout is the task of politics

ECB chief Draghi does well to make countries take their fate into their own hands, writes the liberal-conservative daily Corriere della Sera: » more


El País - Spain | Friday, 3. August 2012

ECB forcing Spain to seek bailout

The ECB has indicated that it is willing to buy massive amounts of government bonds of crisis countries - but only once they have officially applied for help. This decision will have major repercussions for Spanish society, the left-liberal daily El País fears: » more


Vilniaus diena - Lithuania | Thursday, 2. August 2012

Karolis Urbonas on Japan as a model for Europe

Japan has long years of experience in fighting a serious financial crisis, but Europe still won't learn its lesson from this, laments Karolis Urbonas of Vilnius' Social Dynamics International institute in the daily newspaper Vilniaus diena: » more


Main focus of Thursday, 2. August 2012

ECB pondering purchase of government bonds

According to media reports, ECB chief Mario Draghi plans to present a double strategy today, Thursday, for curbing the debt crisis. The plan is for ... » more


Süddeutsche Zeitung - Germany | Thursday, 2. August 2012

Germany only has bad options

Germany must finally commit to a concrete strategy for fighting the debt crisis even though it faces a choice between bad and even worse options, writes the left-liberal daily Süddeutsche Zeitung: » more


Diário de Notícias - Portugal | Thursday, 2. August 2012

More responsibiltiy for the ECB

Greater responsibility in solving the euro crisis is what the liberal-conservative daily Diário de Notícias hopes today's meeting of the ECB governing council will produce: » more


La Vanguardia - Spain | Thursday, 2. August 2012

Draghi must keep his word

ECB chief Mario Draghi must live up to the high expectations he fuelled last week at the meeting of the governing council today, warns the liberal daily La Vanguardia: » more


Delo - Slovenia | Thursday, 2. August 2012

Global intelligence fails in the euro crisis

Europe still hasn't come up with a solution to the euro crisis, writes the left-liberal daily Delo in disbelief: » more


Blog EUROPP - United Kingdom | Wednesday, 1. August 2012

Hugo Brady's idea for buying time in the crisis

Writing on the blog of the London School of Economics Hugo Brady of the Center for European Reform proposes the idea of a 15-year political union that would span three legislative periods of the European Parliament, starting in 2014. This, he says, would give the EU members time to implement reforms and make the monetary union sustainable: » more


Jornal de Negócios - Portugal | Tuesday, 31. July 2012

Dangerous row in the Euro Group

The criticism levelled by Euro Group boss Jean-Claude Juncker against Berlin's conduct in the euro crisis has provoked a series of fierce counterattacks among the ruling coalition in Germany. This is a dangerous dispute that will only increase doubts about the euro, the business paper Jornal de Negócios warns. "Juncker accused Germany of treating the Eurozone as its subsidiary. … The response was not long in coming: » more


Frankfurter Allgemeine Zeitung - Germany | Friday, 27. July 2012

ECB steps into risky grey zone

The signals coming from the ECB about buying up government bonds of crisis-stricken countries are a source of concern for the conservative daily Frankfurter Allgemeine Zeitung: » more


Blog EUROPP - United Kingdom | Friday, 27. July 2012

For Michelle Everson EU bank supervision is a technocratic monster

Michelle Everson, a professor of law, questions the sense of establishing a centralised European bank supervisory authority. It would only increase the European Union's democratic deficit and bolster technocratic structures, she argues in the blog of the London School of Economics: » more


The Irish Independent - Ireland | Thursday, 26. July 2012

Loss of trust at core of euro crisis

The main reason behind the debt crisis is the lack of mutual trust between European countries, the conservative daily the Irish Independent writes: » more


Corriere della Sera - Italy | Wednesday, 25. July 2012

For Ernesto Galli della Loggia there were always two Europes

There is also a positive aspect to the euro crisis, according to historian Ernesto Galli della Loggia. In the liberal-conservative daily Corriere della Sera he explains that it is finally exposing the ideological facade of the EU that has allowed it to ignore the differences between the countries of Europe for so long. "The concept of Europe on which the Treaty of Rome was based has in effect overlooked two essential aspects: » more


NRC Handelsblad - Netherlands | Wednesday, 25. July 2012

Politicians must listen to Moody's

The warning from rating agency Moody's that Germany, Luxembourg and the Netherlands could face a credit status downgrade must be taken seriously, the liberal daily NRC Handelsblad argues: » more


Blog Démystifier la finance - France | Monday, 23. July 2012

Moody's analysis is wrong

The negative outlook for Germany, the Netherlands and Luxembourg is the product of a faulty analysis by the rating agency, writes Georges Ugeux in his blog Démystifier la finance with the daily Le Monde: » more


Dagens Nyheter - Sweden | Wednesday, 25. July 2012

Sweden's historical chance in the crisis

Sweden's healthy state finances mean it is currently paying almost no interest on government loans. The liberal daily Dagens Nyheter sees this as a huge chance for the government to boost the economy through sound investments: » more


Berlingske - Denmark | Wednesday, 25. July 2012

EU as a whole should shoulder responsibility

The euro crisis has long been shaking the foundations of the entire project of the EU, according to the right-liberal daily Berlingske, which calls for non-euro countries like Britain, Denmark and Sweden to shoulder part of the responsibility: » more


Financial Times - United Kingdom | Tuesday, 24. July 2012

Martin Feldstein sees solution to crisis in euro devaluation

With an eye on the crisis-ridden economies of Spain and Greece, Martin Feldstein, professor of economics at Harvard University, explains in a guest column for the liberal daily Financial Times that the solution could lie in devaluing the single currency: » more


El Mundo - Spain | Tuesday, 24. July 2012

Germany must allow ECB to help

There is no reason why Spain should still be under such pressure from the financial markets after its government implemented the recent austerity package, according to the conservative daily El Mundo, which calls for the ECB to step in: » more


Público - Portugal | Tuesday, 24. July 2012

Greek exit a scary prospect after all

The US rating agency Moody's has confirmed the top AAA credit rating of Germany, the Netherlands and Luxembourg for now, but lowered their outlook from "stable" to "negative". It justified the move by pointing to uncertainties about the future of the Eurozone. This means the prospect of Greece going bankrupt is more frightening than certain people are willing to admit, the liberal daily Público concludes: » more


Il Sole 24 Ore - Italy | Tuesday, 24. July 2012

Without the ECB the euro will die

If the European Central Bank (ECB) doesn't intervene now to halt the escalating European debt crisis the monetary union is doomed, warns Roberto Napoletano in the liberal-conservative business paper II Sole 24 Ore: » more


Phileleftheros - Cyprus | Monday, 23. July 2012

Joining the euro was fatal blow for Cypriot economy

At the end of June Cyprus became the fifth country to seek formal assistance from the euro bailout fund. The country's biggest economic problems only began after it joined the Eurozone, Kostas Gouliamos, vice-chancellor of the European University Cyprus in Nicosia, argues in the Sunday edition of the liberal daily Philelefteros: » more


Neue Zürcher Zeitung - Switzerland | Saturday, 21. July 2012

Does Germany really want to lead the EU?

Germany's leading role in the euro crisis is provoking resentment in other EU countries. This raises the question of whether the country wants to maintain its role in the event that the deeper EU integration German Chancellor Angela Merkel is calling for actually comes about, Eric Gujer writes in the liberal-conservative Neue Zürcher Zeitung: » more


Phileleftheros - Cyprus | Thursday, 19. July 2012

Cyprus in the credit trap

Cyprus's rapidly increasing credit requirements and the economic policy of President Dimitris Christofias are causes of serious concern for the liberal daily Phileleftheros: » more


Diário Económico - Portugal | Thursday, 19. July 2012

Portugal reconciles with financial markets

Portugal took in two billion euros with the sale of short-term bonds on Wednesday. The increasingly favourable conditions are a sign of Portugal's gradual reconciliation with the financial markets, the business paper Diário Económico concludes: » more


Le Soir - Belgium | Wednesday, 18. July 2012

Negative interest rates not good news

On Tuesday Belgium joined the group of Eurozone countries that can borrow money at negative interest rates. But what sounds at first like good news really shows what a dire state the Eurozone is in, the left-liberal daily Le Soir comments: » more


Il Sole 24 Ore - Italy | Tuesday, 17. July 2012

More power for ECB could work wonders

The IMF sees the European debt crisis as the greatest risk for the global economy at the moment and called on Monday for a strengthening of the European Central Bank to prevent the crisis from escalating even further. New powers for the ECB could soothe the panic on the markets, the liberal-conservative business paper Il Sole 24 Ore writes: » more


El País - Spain | Tuesday, 17. July 2012

Spain's economic recovery not until after 2013

According to the most recent estimates of the IMF, Spain's economy will also contract in the coming year. The left-liberal daily El País says the government's poor communication policy is to blame: » more


Der Standard - Austria | Tuesday, 17. July 2012

IMF couldn't care less about constitutions

The International Monetary Fund came out on Monday in favour of a banking union and a European-wide deposit insurance programme as a key step in solving the euro crisis. But whether such measures can be justified constitutionally seems to be a matter of indifference for the IMF, the left-liberal daily Der Standard writes: » more


Financial Times - United Kingdom | Monday, 16. July 2012

Wolfgang Münchau on the British eurosceptics of the 1990s

A public debate is raging between economists in Germany. At the instigation of the daily Frankfurter Allgemeine Zeitung, roughly 180 academics associated with Hans-Werner Sinn, ... » more


Jornal de Negócios - Portugal | Monday, 16. July 2012

Portugal's government struggling with deficit

After Portugal's Constitutional Court vetoed the government's austerity measures the latter sees itself forced to look for alternative solutions for balancing the country's budget deficit. The business paper Jornal de Negócios calls for swift action: » more


Der Standard - Austria | Monday, 16. July 2012

EU president can't replace cooperation

In an interview with news magazine Der Spiegel Euro Group chief Jean-Claude Juncker spoke out in favour of a directly elected EU president, saying this would promote integration. But even such a leader cannot take the place of lacking will of EU countries to cooperate productively, writes the left-liberal daily Der Standard: » more


Jyllands-Posten - Denmark | Friday, 13. July 2012

Mandatory bonds: at last a creative proposal

To fight the crisis the German Institute for Economic Research (DIW) on Wednesday proposed the idea of mandatory bonds which could later be bought back with interest once the economic situation permits it. The liberal business daily Jyllands-Posten sees this as an original idea: » more


La Repubblica - Italy | Friday, 13. July 2012

Berlusconi haunting Europe once more

The former Italian Prime Minister Silvio Berlusconi plans to run for election again in 2013, the parliamentary party leader of Berlusconi's PdL party, Fabrizio Cicchito, has said on Thursday, confirming reports in the media. The scandal-plagued ex-prime minister's new bid for office is a frightening prospect for Europe, writes the left-liberal daily La Repubblica: » more


Postimees - Estonia | Thursday, 12. July 2012

Estonia happy for Germany to keep ESM in check

Estonia's Supreme Court dismissed a complaint brought by the Estonian Chancellor of Justice Indrek Teder against the ESM euro bailout fund on Thursday, leaving the Estonian parliament free to ratify the ESM and fiscal compact. The conservative daily Postimees is relieved because it was against the Estonian parliament blocking the ESM: » more


The Irish Independent - Ireland | Thursday, 12. July 2012

Ireland a good model for Greece

Ireland adjusted its GDP growth rate for 2011 upwards on Thursday, from 0.7 to 1.4 percent. The conservative daily The Irish Independent praises Ireland's budget discipline, saying Greece would do well to take it as an example: » more


Le Quotidien - Luxembourg | Wednesday, 11. July 2012

Juncker's sacrifice was his triumph

At their meeting on Tuesday the finance ministers of the Euro Group gave their current boss Jean-Claude Juncker a new mandate for a maximum of two and a half years. For Juncker this is a triumph even though he is said to be weary of the post, the left-liberal daily Le Quotidien concludes: » more


Il Sole 24 Ore - Italy | Thursday, 12. July 2012

Italy hasn't won the war yet

Italy's head of government Mario Monti on Wednesday ceded the post of Economic and Finance Minister he had occupied temporarily to his deputy Vittorio Grilli. At the same time he warned Italy not to let down its defences because the country remained in a state of war. Monti is wise not to beat around the bush with his people, the liberal-conservative business paper Il Sole 24 Ore writes: » more


Die Presse - Austria | Thursday, 12. July 2012

Mandatory levy is expropriation of the people

The German Institute for Economic Research (DIW) proposed in a study published on Wednesday the introduction of mandatory bonds and short-term special levies for the wealthy as a means of easing the strain on the German budget. The liberal-conservative daily Die Presse is amazed at this call for expropriation: » more


Blog Lse Europp - United Kingdom | Wednesday, 11. July 2012

Alexander Görlach sees in the euro the new reserve currency

Despite the ongoing debt crisis, the euro could have a brilliant future as a new reserve currency, writes Alexander Görlach, chief editor of the magazine The European, in the blog of the London School of Economics: » more


Le Soir - Belgium | Tuesday, 10. July 2012

Bucharest and Brussels in the same crisis

The authoritarian behaviour of the Romanian government and the mistrust of the European citizens in the euro crisis both demonstrate the loss of political legitimacy, the left-liberal daily Le Soir comments: » more


Main focus of Wednesday, 11. July 2012

Euro Group pushes ahead with ESM expansion

At their meeting in Brussels the Euro Group finance ministers have initiated the expansion of the ESM, paving the way for the bailout mechanism to ... » more


Delo - Slovenia | Wednesday, 11. July 2012

Speculation about Slovenia applying for EU help

The comment by Slovenian Prime Minister Janez Janša to the effect that his country is potentially facing a Greek scenario is feeding speculation that Slovenia will become the sixth country in the Monetary Union to apply for EU bailout funds. The Slovenian Finance Minister Janez Šušteršič stressed at the meeting with his colleagues in Brussels that things won't go that far, but the left-liberal daily Delo sees the whole episode as a major gaffe: » more


Spiegel Online - Germany | Tuesday, 10. July 2012

Gauck a much needed pain in the neck

In a televised interview broadcast on Sunday, German President Joachim Gauck challenged Chancellor Angela Merkel to do a better job explaining to the people her policies on the euro crisis. In normal times Gauck would be regarded as a pain in the neck but today he is a godsend for democracy, writes Jakob Augstein in his column for the news portal Spiegel Online: » more


Rzeczpospolita - Poland | Monday, 9. July 2012

Polish banks' autonomy at risk

According to a report by the German news magazine Der Spiegel, the European Central Bank rejects the proposals by the EU Commission regarding the tasks of a future European Banking Authority. Brussels is demanding that the EBA supervise the banks in all 27 EU states. The conservative daily Rzeczpospolita fears for the autonomy of the Polish banks: » more


Die Tageszeitung taz - Germany | Monday, 9. July 2012

Bickering economists expose their own weakness

Almost 300 German economists are currently squabbling over the question of whether the Eurozone should rescue ailing banks. This has the effect of demystifying the expertocraty and freeing its slaves, including the German politicians, writes the leftist daily tageszeitung: » more


Cinco Días - Spain | Monday, 9. July 2012

Euro Group struggling to save Spain's banks

After Spain recently officially requested assistance for its banks, the finance ministers of the Euro Group must fight to ensure that the bank rescue operation is at all successful at their meeting this Monday, writes the business daily Cinco Días: » more


Der Standard - Austria | Monday, 9. July 2012

Schäuble should head Euro Group

Today's meeting of Eurozone finance ministers could reach a compromise on the successor to Jean-Claude Juncker as head of the Euro Group. According to media reports, a rotation model is in the offing whereby the German Finance Minister Wolfgang Schäuble and his French counterpart Pierre Moscovici would share the tasks. The left-liberal daily Der Standard believes Schäuble is the best candidate: » more


Delo - Slovenia | Monday, 9. July 2012

Reconciliation more than a symbol

In times of crisis, paying tribute to the German-French reconciliation should be more than just a symbolic gesture, and the EU finance ministers need to bear this in mind at their meeting today, the left-liberal daily Delo contends: » more


La Vanguardia - Spain | Friday, 6. July 2012

Buying state bonds would show solidarity

Mario Monti's No to the purchase of Spanish and Italian bonds is a dangerous stance, the liberal daily La Vanguardia warns after the ECB chief's statements on Thursday: » more


Diário de Notícias - Portugal | Friday, 6. July 2012

Of course Portugal won't reach deficit target

Miguel Frasquilho, an MP of the ruling centre-right coalition in Portugal, on Thursday became the first politician to officially admit that the country will have difficulties meeting the agreed deficit target for 2012. The daily Diário de Notícias pokes fun at this "news": » more


Le Temps - Switzerland | Friday, 6. July 2012

Central banks too powerful

The ECB as well as the central banks of China and the UK introduced additional support measures on Thursday, but market reactions have been negative on the whole. That shows that too much is being expected of the central banks, writes the liberal daily Le Temps: » more


De Tijd - Belgium | Friday, 6. July 2012

Eurozone left without its firefighters

After the cut in the base interest rate ECB President Mario Draghi announced on Thursday that the bank does not plan to take further measures to solve the euro crisis, such as purchasing the government bonds of crisis countries. This brings the Eurozone down to earth with a bump, the business paper De Tijd comments: » more


Der Standard - Austria | Friday, 6. July 2012

Lower interest rate no good to anyone

The ECB's bringing the base interest rate down to a record low of 0.75 percent on Thursday won't be effective because in the present situation it will boost neither investment nor consumption, the left-liberal daily Der Standard contends: » more


The Irish Independent - Ireland | Thursday, 5. July 2012

Willingness to reform helps Ireland recover

Ireland made a comeback on Europe's financial markets on Thursday. Two years after its banks plunged the country into a crisis it sold government bonds to the tune of 500 million euros. If it demonstrates the necessary willingness for reform, Irish society will get its ailing economy back on track, the conservative daily Irish Independent writes: » more


Diário Económico - Portugal | Thursday, 5. July 2012

Strike wave the last straw in Portugal

Portugal's public-sector warning strikes enter a new round today, Thursday. Ultimately the crisis-ridden country will suffer the most, writes the business paper Diário Económico: » more


Kurier - Austria | Thursday, 5. July 2012

Embarassing ESM debate in Austria

The Austrian parliament voted in favour of the ESM bailout fund and the fiscal compact on Wednesday. But the heated debate in the National Assembly and above all the speeches made by right-wing populist Karl Heinz Strache of the FPÖ were shameful, writes the liberal daily Kurier: » more


Simerini - Cyprus | Monday, 2. July 2012

Troika examining the Cypriot patient

One day after Cyprus took over the EU Council presidency representatives of the troika made up of the EU, IMF and ECB travelled to the Mediterranean island to analyse its finances and assess how much money Nicosia will require from the euro bailout fund. The conservative daily Simerini looks at the chances that this visit offers: » more


La Repubblica - Italy | Tuesday, 3. July 2012

Dispute over EU summit agreements yet to come

The Finnish government announced on Monday that it plans to veto the purchase of government bonds by the ESM European bailout fund agreed at last week's EU summit. The Dutch government also expressed criticism of the move. The reservations of the two countries show that the resolutions reached at the summit are not ready to be put into practice, the left-liberal daily La Repubblica writes: » more


Business Insider - United Kingdom | Sunday, 1. July 2012

Devaluation of euro as way out of crisis

Only a drastic devaluation of the euro can help Europe overcome its debt crisis, Bruce Krasting argues on the economics blog Business Insider commenting on last week's EU summit. He contends that both the crisis countries and Germany would profit from such a move: » more


Main focus of Monday, 2. July 2012

Hopes and doubts after the EU summit

Europe's crisis countries are optimistic after the EU summit in Brussels. Spain hopes for a retroactive bailout for its banks, while Italy can expect less ... » more


Financial Times - United Kingdom | Sunday, 1. July 2012

Without euro bonds Europe will not survive

Without the introduction of joint bonds the future of Europe hangs by a thread, writes the liberal business paper Financial Times with an eye to the EU summit: » more


Il Sole 24 Ore - Italy | Sunday, 1. July 2012

Merkel's secret victory

According to media reports German Chancellor Angela Merkel was virtually blackmailed into making concessions by the heads of government of Italy and Spain at the EU crisis summit at the end of last week. In truth Merkel relented only on formal, unimportant points while secretly scoring a major victory, the liberal-conservative business paper Il Sole 24 Ore writes: » more


Les Echos - France | Monday, 2. July 2012

Yet another small-step summit

The EU summit in Brussels showed no sign of the sort of radical reorientation in European policy aspired to by French President François Hollande, the liberal business paper Les Echos notes: » more


NRC Handelsblad - Netherlands | Sunday, 1. July 2012

Vicious circle appears broken

Many European media have expressed doubt over the success of last week's EU summit. But at least it set an important course, writes the liberal daily NRC Handelsblad: » more


Main focus of Friday, 29. June 2012

Italy and Spain score at the EU summit

Meeting at the EU summit, the Eurozone heads of state and government reached an agreement early on Friday morning on bank supervision and easier access ... » more


Handelsblatt - Germany | Friday, 29. June 2012

Rebellion of the southern Europeans

Italy's Prime Minister Mario Monti and his Spanish counterpart Mariano Rajoy have managed to secure easier access to the ESFS and ESM bailout funds for states that need to lower the interest rates on their government bonds. But this summit, too, has fallen short of a true breakthrough, the business paper Handelsblatt laments: » more


24 Chasa - Bulgaria | Wednesday, 27. June 2012

Bulgaria an unrecognised model state

Whereas many EU countries are up to their necks in debt Bulgaria has a firm grip on its finances, with public debt at roughly 16 percent of GDP. But most foreign investors are completely unaware of this, the daily 24 Chasa laments, arguing that the country badly needs to work on its image: » more


Magyar Narancs - Hungary | Friday, 29. June 2012

Mátyás Eörsi on the contradictory nature of the EU

If the member states are not willing to transfer sovereignty rights to Brussels the EU won't be able to survive in the long term, journalist Mátyás Eörsi predicts in the left-liberal weekly Magyar Narancs: » more


La Repubblica - Italy | Friday, 29. June 2012

Europe fears the Euro state

The EU is trailing from one summit to the next without really tackling the rescue of the euro, the left-liberald daily La Repubblica writes: » more


To Vima Online - Greece | Friday, 29. June 2012

Germany only thinking of itself in the crisis

Germany won't change its stance even if the euro collapses, the left-liberal online paper To Vima laments, commenting on the EU summit in Brussels: » more


Delo - Slovenia | Friday, 29. June 2012

Growth pact not enough to solve debt crisis

The heads of state and government at the EU summit have agreed on a 120 billion euro growth package. But the politicians' major hurdles are yet to come, the left-liberal daily Delo warns: » more


Il Sole 24 Ore - Italy | Thursday, 28. June 2012

No solidarity without a loss of sovereignty

The unbridgeable gap between Paris and Berlin could cause the EU summit to run aground, fears the liberal-conservative business paper Il Sole 24 Ore: » more


ABC - Spain | Thursday, 28. June 2012

Get banking union underway

The single currency threatens to collapse unless the EU summit sends a clear message that fiscal union is on the way, the conservative daily ABC warns: » more


Sme - Slovakia | Thursday, 28. June 2012

Merkel is a German first, then a European

The EU heads of state and government meet to discuss a reform of the Monetary Union in Brussels today. Merkel's unambiguous rejection of euro bonds in advance of the meeting is only logical, writes the liberal daily Sme: » more


Jyllands-Posten - Denmark | Thursday, 28. June 2012

Europe heading for a two-speed Union

Europe's governments lack the will to find a long-term solution to the crisis, the liberal-conservative daily Jyllands-Posten complains, fearing that a two-speed Europe will be the result: » more


Financial Times Deutschland - Germany | Wednesday, 27. June 2012

Euro failing due to lack of economic union

Europe has reached a crossroads with the Brussels summit, Wolfgang Münchau writes in the liberal business paper Financial Times Deutschland, fearing that the the lack of an economic union worth the name will be the euro's downfall: » more


Cicero - Germany | Wednesday, 27. June 2012

Gunter Hofmann on German politics, which ignores the people

Columnist Gunter Hofmann analyses in the online edition of the political monthly Cicero the EU's democratic deficit and a possible referendum on a change to the German Basic Law that would allow the transfer of more national competences to the EU: » more


Politis - Cyprus | Tuesday, 26. June 2012

Bailout an opportunity for Cyprus

The euro partners are negotiating the terms of an emergency loan for Cyprus after the country applied for assistance from the euro bailout fund on Monday. The liberal daily Politis tries to see a positive side to resorting to the EU rescue mechanism: » more


Hospodárske noviny - Slovakia | Wednesday, 27. June 2012

Van Rompuy's reform castrates nation states

Ahead of the summit in Brussels planned for Thursday and Friday, leading representatives from the EU and the ECB have drawn up a reform paper that paves the way for deeper integration of the Union under the aegis of EU Council President Herman Van Rompuy. The business paper Hospodárske noviny is less than enthusiastic about the idea: » more


De Morgen - Belgium | Wednesday, 27. June 2012

Eurozone reconstruction a step out of the crisis

The proposals by European Council President Herman Van Rompuy on the construction of a genuine fiscal union are cause for hope, writes the left-liberal daily De Morgen: » more


Imerisia - Greece | Tuesday, 26. June 2012

Merkel treating Greece like a punching bag

German Chancellor Angela Merkel has rejected proposals to pool Europe's debt with drastic words. There will be no joint liability in Europe "as long as I live", she said at a meeting on Tuesday. The left-liberal business paper Imerisia expresses annoyance at the Germans' unbending stance: » more


Blog Charlemagne - United Kingdom | Tuesday, 26. June 2012

No debt mutualisation with Merkel

German Chancellor Angela Merkel will hardly agree to a future mutualisation of Europe's debts, writes blogger Charlemagne on the website of the liberal-conservative weekly The Economist: » more


Jornal de Negócios - Portugal | Tuesday, 26. June 2012

Portugal struggling with its deficit target

Portugal's liberal-conservative government has reaffirmed its resolve to adhere to the plan of lowering its budget deficit for 2012 to 4.5 percent, but the business paper Jornal de Negócios suspects this will be more difficult than expected: » more


Phileleftheros - Cyprus | Monday, 25. June 2012

Cyprus should fear bailout fund

Cyprus became the fifth country to seek assistance from the euro bailout fund on Monday after the country's banking sector has come under increasing pressure owing to its close financial ties with Greece. The liberal daily Phileleftheros fears that Cyprus will pay a high price for this help: » more


Cinco Días - Spain | Tuesday, 26. June 2012

Italy's dangerous anti-European clowns

Prominent Italian politicians like ex-prime minister Silvio Berlusconi recently explained that there would be benefits to the country exiting the Eurozone. Such anti-European statements could further jeopardise Italy's stability, the left-liberal business paper Cinco Diás warns: » more


Delo - Slovenia | Tuesday, 26. June 2012

Summit will be ineffective

The question of whether to step up integration as a means of coping with the euro crisis is firmly on the agenda at the EU summit in Brussels on Thursday and Friday. After all the EU's unsuccessful attempts to solve the crisis, the left-liberal daily Delo does not have much hope that the summit will be productive: » more


Blog Politblog - Switzerland | Monday, 25. June 2012

EU could prove to be only solution

Ueili Maurer, a member of the Swiss Federal Council and the national-conservative Swiss People's Party (SVP), recently stated in an interview with the weekly newspaper Zeit that no one "who hasn't completely lost their marbles" wants to become part of the EU now. Maurer's frank words could well put Switzerland at a disadvantage one day, writes the Politblog of the liberal daily Tages-Anzeiger: » more


Spiegel Online - Germany | Monday, 25. June 2012

Common EU government unavoidable

German Chancellor Angela Merkel must show at the EU summit at the end of the week that she has confidence in Europe, writes the news portal Spiegel Online, predicting that a common European government is inevitable: » more


Die Tageszeitung taz - Germany | Monday, 25. June 2012

Big four summit evades sensitive issues

The heads of state and government of the four major euro states Germany, France, Italy and Spain convened in Rome on Friday for a crisis meeting. But they failed to tackle the burning issues in their talks, the leftist daily taz criticises: » more


La Stampa - Italy | Monday, 25. June 2012

Banking union colossal task for ECB

EU Council President Herman Van Rompuy has now also spoken out in favour of a European banking union in an interview published in the Welt am Sonntag. Van Rompuy is understandably pinning his hopes on the driving force of the European Central Bank, which faces a colossal task, writes the liberal daily La Stampa: » more


Il Sole 24 Ore - Italy | Friday, 22. June 2012

Rome should advocate more EU integration

In Rome, a crisis summit involving Germany, France, Italy and Spain takes place this Friday. Rome should play the role of mediator to speed up economic and political integration in Europe, writes the liberal-conservative business paper Il Sole 24 Ore: » more


Financial Times - United Kingdom | Friday, 22. June 2012

For David McCormick the solution to the euro crisis lies in US history

The G20 meeting in Mexico ended with empty promises that won't solve the European debt crisis in the long term, fears the former US Treasury Under Secretary David McCormick in the liberal business paper Financial Times, and he draws parallels with the American debt crisis at the end of the18th century: » more


Spiegel Online - Germany | Thursday, 21. June 2012

For Wolfgang Münchau Merkel's policy leads to Dante's Inferno

German Chancellor Angela Merkel's crisis policies will lead straight to the biggest bankruptcy the world has ever seen, columnist Wolfgang Münchau fears in the news portal Spiegel Online: » more


De Volkskrant - Netherlands | Thursday, 21. June 2012

Political union for Europe is unnecessary

At the G20 summit in Mexico several heads of government have called on Europe to quickly resolve the euro crisis by establishing a political union. Such expectations are unrealistic, the left-liberal daily De Volkskrant objects: » more


Público - Portugal | Thursday, 21. June 2012

Rescue fund should buy government bonds

Italian Prime Minister Mario Monti called at the G20 summit in Mexico for the EFSF bailout fund or its successor, the ESM, to be allowed to purchase the bonds of crisis-stricken states as a means of lowering their borrowing costs. Germany, too, should realise that this is a sensible strategy, writes the liberal daily Público: » more


La Tribune - France | Thursday, 21. June 2012

Euro bills as a compromise for Hollande and Merkel

France wants to introduce euro bonds, Germany wants to strengthen budget discipline. The two positions should be reconciled with the introduction of "euro bills", write the financial experts Christian Hellwig and Thomas Philippon in the liberal business paper La Tribune: » more


Dienas Bizness - Latvia | Tuesday, 19. June 2012

Latvia as a safe haven in the North

The European debt crisis continues to pose a threat to financial stability, writes the business paper Dienas Bizness, proposing that Latvia should position itself with other Baltic countries as a safe haven for investments: » more


Financial Times Deutschland - Germany | Wednesday, 20. June 2012

Criticism helpful for Europe

EU Commission President José Manuel Barroso has been sharply criticised for Europe's crisis management at the G20 summit in Mexico. But the harsh words are justified, writes the liberal business paper Financial Times Deutschland: » more


Corriere della Sera - Italy | Wednesday, 20. June 2012

Gold reserves as guarantee for bailout fund

The interest rates on Spanish and Italian government bonds rose again at the beginning of the week. To prevent the crisis from spreading further the EU must tap its gold reserves, economist Alberto Quadrio Curzio writes in the liberal-conservative daily Corriere della Sera: » more


Rzeczpospolita - Poland | Wednesday, 20. June 2012

More billions for IMF bailout fund pointless

The participants of the G20 summit decided on Tuesday to boost the bailout fund of the International Monetary Fund (IMF) to 456 billion dollars. The Polish law professor Robert Gwiazdowski sees this as a questionable measure and writes in an opinion piece for the conservative daily Rzeczpospolita: » more


La Vanguardia - Spain | Wednesday, 20. June 2012

G20 summit a good start

The agreements reached among the G20 representatives in Mexico are a promising start to the summit meetings of the coming weeks, writes the liberal daily La Vanguardia: » more


Neue Zürcher Zeitung - Switzerland | Tuesday, 19. June 2012

German Ruling on ESM strengthens national law

The German Constitutional Court ruled on Tuesday that the German government may no longer act on matters concerning the European bailout fund, the ESM, without consulting parliament. The liberal-conservative daily Neue Zürcher Zeitung welcomes the judgement because it strengthens national legislatures vis-à-vis Brussels: » more


Le Figaro - France | Tuesday, 19. June 2012

Rémy Prud'homme says government investment won't solve crisis

French President François Hollande has proposed to lead Europe out of recession by increasing public sector investments. A misguided idea, writes economist Rémy Prud'homme in the conservative daily Le Figaro: » more


Il Sole 24 Ore - Italy | Tuesday, 19. June 2012

G20 partners should not lecture to EU

At the G20 summit in Mexico the row over how to solve the crisis in Europe is simmering. The two-day meeting of the heads of government and state began with the participants blaming each other for the crisis. Europe is right to defend itself against the pointed finger of its G20 partners, writes the liberal-conservative business paper Il Sole 24 Ore: » more


Kaleva - Finland | Tuesday, 19. June 2012

Crisis fatigue benefits Europe's social democrats

Europe's voters have had enough of the ongoing cuts in public spending, comments the liberal daily Kaleva in view of the overwhelming Socialist victory in the French parliamentary elections: » more


El País - Spain | Tuesday, 19. June 2012

For Paul Krugman Brussels and Berlin are to blame for the crisis

The mistakes that have led to the debt crisis in Southern Europe were made in the North and can only be corrected there, warns economist Paul Krugman in the left-liberal daily El País: » more


Jyllands-Posten - Denmark | Monday, 18. June 2012

G20 can't solve Europe's problems

At the summit meeting that begins today, Monday, in Mexico, the group of the 20 most important industrial and emerging nations will focus above all on he euro crisis. But the G20 is hardly the right place for solving Europe's problems, writes the liberal-conservative daily Jyllands-Posten: » more


Neue Zürcher Zeitung - Switzerland | Saturday, 16. June 2012

Cede no more sovereignty to Brussels

Ceding further national sovereignty to the EU is the wrong way to bring Europe together, writes the liberal-conservative daily Neue Zürcher Zeitung, because now "part ... » more


Magyar Narancs - Hungary | Friday, 15. June 2012

Péter Felcsúti on the Eurozone's major birth defect

The Eurozone has a serious birth defect, writes economist Péter Felcsúti in the online edition of the left-liberal weekly paper Magyar Narancs, in view of the ongoing crisis in the monetary union: » more


Blog Ignacio Escolar - Spain | Friday, 15. June 2012

Berlin pays, Berlin calls the shots

People must try to see things from Germany's point of view, writes the Spanish journalist Ignacio Escolar in his blog, defending Angela Merkel: » more


Il Sole 24 Ore - Italy | Friday, 15. June 2012

Chancellor's oracle gives hope, too

Chancellor Merkel's government statement is an oracle that allows for a positive outcome, writes the liberal-conservative business paper Il Sole 24 Ore: » more


Politis - Cyprus | Thursday, 14. June 2012

Nikosia relying on wrong creditor

Cyprus, which like Spain is battling a crisis in its banking sector, will take over the rotating presidency of the EU Council on July 1. On Thursday Russian media reported that Russia will give the country a new loan of up to five billion euros. The liberal daily Politis can't understand why Nikosia is turning to Russia for a loan: » more


Neue Zürcher Zeitung - Switzerland | Friday, 15. June 2012

Swiss must continue to defend franc against euro

Ahead of the elections in Greece the Swiss National Bank (SNB) stated on Wednesday that it would continue to maintain the exchange rate for one euro at 1.20 Swiss francs. This is the only viable course right now, writes the liberal-conservative daily Neue Zürcher Zeitung: » more


Frankfurter Rundschau - Germany | Friday, 15. June 2012

Merkel risks collapse of the Monetary Union

In her government statement on the G20 summit on Monday and Tuesday in Mexico, German Chancellor Angela Merkel warned against overburdening Germany in the crisis. But nothing would strain the country more than the collapse of the Monetary Union, writes the left-liberal daily Frankfurter Rundschau: » more


Die Presse - Austria | Friday, 15. June 2012

Debt redemption fund can bolster austerity policy

Germany will have to confront the unpleasant reality of the situation, writes the liberal-conservative daily Die Presse. Chancellor Merkel should finally get used to the idea of a debt repayment fund through which the Eurozone countries finance the debts of struggling partners via common bonds, the paper writes: » more


Il Sole 24 Ore - Italy | Thursday, 14. June 2012

Monti needs trust of euro partners

The interest rate on Italian government bonds rose again considerably on Wednesday. Because Italy is coming under increasing financial pressure its Prime Minister Mario Monti needs to campaign for the trust of his EU partners, the liberal-conservative business paper Il Sole 24 Ore demands: » more


Diário Económico - Portugal | Thursday, 14. June 2012

Germany capitalising on the crisis

As a means of stimulating the economies of crisis-stricken countries, economist Nouriel Roubini on Wednesday proposed to the German government that every German household should receive a gift voucher worth 1,000 euros for a holiday in one of these countries. But as long as Germany continues to capitalise on the crisis this good idea won't be put into practice, the business paper Diário Económico suspects: » more


Neue Zürcher Zeitung - Switzerland | Thursday, 14. June 2012

Bank bailout intensifies Spain's crisis

US rating agency Moody's has lowered Spain's credit rating by three notches on Wednesday evening, leaving it barely above junk status. It also warned that a further downgrade may be imminent. The liberal-conservative Neue Zürcher Zeitung is not surprised at the move: » more


Die Tageszeitung taz - Germany | Wednesday, 13. June 2012

Berlin must solve Italy's crisis

Austria's Finance Minister Maria Fekter on Monday evening fed speculation that Italy will need to apply for European financial assistance. The Italian government needs support from Berlin because even in its eagerness to introduce reforms it cannot solve the crisis on its own, writes the left-leaning daily taz: » more


Diário Económico - Portugal | Tuesday, 12. June 2012

Some countries more equal than others in Europe

The decision to forego mandatory spending cuts in exchange for the bailout package for Spain's struggling banks shows that the same standards do not apply for all crisis countries, writes the business paper Diário Económico: » more


Blog Ignacio Escolar - Spain | Tuesday, 12. June 2012

Emergency plan points to Athens exiting euro

News agency Reuters reported on Monday that the EU is working out an emergency plan for the event that Greek exits the Eurozone. Ignacio Escoal analyses two different interpretations of this news in his blog: » more


De Volkskrant - Netherlands | Tuesday, 12. June 2012

Politicians must be honest about risks

The Dutch caretaker Prime Minister Mark Rutte has assured his country that the billions in aid for the Spanish banks will be repaid. That is dishonest, the left-liberal daily De Volkskrant counters: » more


Les Echos - France | Tuesday, 12. June 2012

Short-term policies costly for the EU

With the 100 billion euro bailout plan for Spain's banks Europe is once more launching an emergency rescue operation. But the plan fails to address the underlying causes of the financial crisis, the liberal weekly business paper Les Echos writes: » more


Helsingin Sanomat - Finland | Tuesday, 12. June 2012

Small states at a double disadvantage

The bailout package for Spain is aimed at preventing the financial crisis from spreading throughout the entire Eurozone. The IMF warned on Monday that Finnish banks may also be affected. The liberal daily Helsingin Sanomat complains that expanding the bailout operations entails higher risks for small countries: » more


Politiken - Denmark | Tuesday, 12. June 2012

Clearly separate banks from state treasuries

In view of the new bailout plan for Spain's banks on the weekend, the left-liberal daily Politiken demands that a clear distinction be made between states and their banks: » more


The Guardian - United Kingdom | Tuesday, 12. June 2012

Hollande wins room to manoeuvre

After the French Socialists under President François Hollande emerged as the strongest party from the first round of the parliamentary elections on Sunday, the liberal daily The Guardian is optimistic that they will obtain an absolute majority in the National Assembly: » more


Main focus of Monday, 11. June 2012

Spain accepts help for its banks

The Spanish government announced on Saturday that it will apply for help from the euro bailout fund to save its banking sector. The Eurozone plans ... » more


Expresso - Portugal | Monday, 11. June 2012

Lisbon is no new Athens

A year after seeking help from the euro bailout fund Lisbon has not turned into another Athens, despite the fierce debates about the rigid austerity programme and concerns about social unrest, the left-liberal weekly Expresso concludes: » more


Libération - France | Friday, 8. June 2012

Hollande's period of grace has run out

The French Socialists led by President François Hollande emerged as the strongest party from the first round of the country's parliamentary elections. Now his government must finally take action, the left-liberal daily Libération urges: » more


El Mundo - Spain | Monday, 11. June 2012

The markets have the final say

The Spanish Prime Minister Mariano Rajoy said on Sunday that he had negotiated "favourable conditions" for the rescue of Spain's banks. The conservative daily El Mundo says it's up to the markets to interpret these words: » more


Il Sole 24 Ore - Italy | Sunday, 10. June 2012

Europe needs political integration now

The bailout for the Spanish banking sector does not fulfill the precondition for saving the euro, writes the liberal-conservative business paper Il Sole 24 Ore, calling for immediate political integration: » more


Naftemporiki - Greece | Monday, 11. June 2012

Rescue package for Madrid is Athens' chance

The fact that Spain will receive an EU bailout without being forced to implement a tough austerity programme in exchange represents a great opportunity for Greece to renegotiate the terms of its own austerity, in the eyes of conservative business paper Naftemporiki: » more


Financial Times Deutschland - Germany | Monday, 11. June 2012

Tsipras wants to blackmail Europe

In the run-up to the new elections in Greece next Sunday the liberal business paper Financial Times Deutschland believes the left-wing candidate and potential winner Alexis Tsipras could try to blackmail Europe if he is elected: » more


Gazeta Wyborcza - Poland | Monday, 11. June 2012

Spain and EU buy themselves crucial time

The bailout for Spain may not be a cure-all but it's the best solution currently available for servicing the debts in the long term, writes the liberal daily Gazeta Wyborcza: » more


Eesti Päevaleht - Estonia | Monday, 11. June 2012

Latvian crisis policy exemplary

The head of the International Monetary Fund, Christine Lagarde, praised Latvia for its stringent austerity programme last week, describing it as a good example for other European crisis countries. Estonia, too, can learn from its neighbour, writes the liberal daily Eesti Päevaleht: » more


The Economist - United Kingdom | Monday, 11. June 2012

Future of Spanish economy remains bleak

Although the Spanish government and its crisis-ridden banks were promised a bailout package of up to 100 billion euros on Saturday, the liberal business magazine The Economist doubts that the measure will suffice to rescue the country: » more


Il Sole 24 Ore - Italy | Friday, 8. June 2012

Cameron's cynical advice on saving euro

German Chancellor Angela Merkel and British Prime Minister David Cameron called for stronger integration of the Eurozone at a bilateral meeting on Thursday in Berlin. It's all very well for London since it's only protecting its own interests, writes the liberal-conservative business paper Il Sole 24 Ore: » more


La Razón - Spain | Friday, 8. June 2012

Spain should cut its regions down to size

Esperanza Aguirre, the conservative president of the region of Madrid, proposed on Wednesday that the number of members in the Madrid regional parliament be halved to cut costs. The conservative and centralist daily La Razón applauds the idea: » more


L'Express - France | Thursday, 7. June 2012

Jacques Attali on the people as Europe's last hope

In view of the desolate situation in many countries of the EU, calls for a pan-European referendum on the future of the Union are growing louder. The last hope lies with the Europeans, the economist Jacques Attali writes in the liberal weekly L'Express: » more


Phileleftheros - Cyprus | Wednesday, 6. June 2012

Cyprus doesn't need bailout fund

Cyprus' President Dimitris Christofias last week did not rule out the possibility of Cyprus seeking help from the EFSF bailout fund. According to the EU Commission, however, the country doesn't need international financial aid. The liberal daily Phileftheros agrees - provided Cyprus follows the EU's advice: » more


Blog Coulisses de Bruxelles - Belgium | Thursday, 7. June 2012

Last-minute summits no solution

The Spanish banking disaster was predictable, writes Jean Quatremer on his blog Coulisses de Bruxelles, saying that the EU must therefore grasp once and for all that a series of hectically convened summit meetings is not going to solve the crisis: » more


Die Zeit - Germany | Thursday, 7. June 2012

For Alice Bota Poland's rise is European success story

The crisis-ridden Europe sometimes forgets its own success stories, writes Alice Bota in the liberal weekly paper Die Zeit, with an eye to the resplendent Euro 2012 host Poland, whose story should inspire Greece in its present plight: » more


Corriere della Sera - Italy | Thursday, 7. June 2012

Bank downgrade drags Germany into crisis

Rating agency Moody's downgraded the credit status of the Commerzbank and six other banks in Germany on Wednesday. This step has made clear once more that even Germany is not immune to the consequences of the banking crisis, writes the liberal-conservative daily Corriere della Sera: » more


El Huffington Post - Spain | Thursday, 7. June 2012

Merkel's strange crisis policy

Germany is the country with the greatest interest in saving the euro yet it is doing too little to that effect, according to Juan Luis Cebrián, managing director of the media company Prisa. In his blog in the Spanish edition of the left-liberal online newspaper Huffington Post, published for the first time this Thursday, Cebrián writes: » more


Gazeta Wyborcza - Poland | Thursday, 7. June 2012

Proposal leaves too many open questions

Banks need to be subject to stricter control, writes Mariusz Zygierewicz, the head of the Polish bank association ZBP, in a commentary for the liberal daily Gazeta Wyborcza. However he criticises several individual proposals put forward by the EU Commission: » more


Neue Zürcher Zeitung - Switzerland | Thursday, 7. June 2012

ECB must control bank bailout

Europe could use the legislation for overcoming the banking crisis right away, writes the liberal-conservative daily Neue Zürcher Zeitung: » more


Main focus of Wednesday, 6. June 2012

Financial markets distrust Spain

Spain admitted for the first time on Tuesday that it is having difficulties raising money on the financial markets. The possibility of making use of ... » more


Magyar Nemzet - Hungary | Wednesday, 6. June 2012

Europe's austerity policy obsolete

For approximately two years now the EU has been implementing a stringent austerity policy. But with its growth-oriented economic policy the US is faring much better than Europe, which is getting nowhere right now, writes economist István Dedák in the conservative daily Magyar Nemzet: » more


La Stampa - Italy | Wednesday, 6. June 2012

US fears a predominant Germany

The US has warned repeatedly in recent months of the threat posed by the euro crisis to the global economy and called for growth-stimulating measures. These demands conceal the US's fear of Germany growing too strong, the liberal daily La Stampa contends: » more


El Mundo - Spain | Wednesday, 6. June 2012

Spain is not Greece

After Tuesday's G7 telephone conference on the subject of the euro debt crisis, several Spanish newspapers have quoted an anonymous participant from Germany who described the Spanish as too proud to ask Europe for help. Germany is clinging to old prejudices and overlooking the fact that the situation in Spain is quite different to that in Greece, the conservative daily El Mundo complains: » more


Süddeutsche Zeitung - Germany | Wednesday, 6. June 2012

Making sacrifices for euro bonds

In the discussion about solutions to the banking crisis in Spain the country's Prime Minister Mariano Rajoy for the first time spoke out in favour of introducing euro bonds on Tuesday in Madrid. But for this project to go ahead France and Germany would have to sacrifice their most precious treasures, the left-liberal daily Süddeutsche Zeitung explains: » more


Público - Portugal | Wednesday, 6. June 2012

The nightmare is becoming reality

After the Spanish government admitted on Tuesday that it was having trouble raising money on the financial markets the daily Público is pessimistic about the future: » more


Blog Giannis Albanis - Greece | Tuesday, 5. June 2012

Giannis Albanis on a country without medication

The crisis in Greece is affecting the country's healthcare system. Many pharmacies are only selling medications for cash. As of this Wednesday cancer patients who cannot afford to pay cash in advance are to receive their medication once again. Blogger Giannis Albanis is amazed at the third-world conditions in his country and mourns the lost Europe of his parents' generation: » more


Die Presse - Austria | Wednesday, 6. June 2012

Bailout will pay off for Europe

Spain will have no choice but to seek help from the bailout fund, writes the liberal-conservative daily Die Presse. Unlike with Greece this rescue operation may actually be worthwhile for Europe, the newspaper surmises: » more


Irish Examiner - Ireland | Wednesday, 6. June 2012

Ireland forgets its fragile society

The Yes vote by the Irish in the referendum on the EU fiscal compact last Thursday has shown how fragile Ireland's society is, writes the liberal daily the Irish Examiner: » more


Main focus of Tuesday, 5. June 2012

EU considers ESM help for banks

EU Monetary Affairs Commissioner Olli Rehn said on Monday that he no longer rules out the possibility of assisting ailing banks like those in Spain ... » more


Público - Portugal | Tuesday, 5. June 2012

Model pupil Portugal lacks pluck

Portugal has once again received good marks from the troika for its implementation of the austerity measures. It is therefore lamentable that the government is nonetheless acting so hesitantly and not investing in the economy, the daily Público complains: » more


Naftemporiki - Greece | Tuesday, 5. June 2012

Athens needs alternatives to austerity

With the 17 June elections in mind, politicians in Greece are increasingly evoking the possibility of renegotiating the tough austerity measures with creditors. The conservative business paper Naftemporiki writes that Athens can't reject the austerity package without making a counter-proposal: » more


Het Financieele Dagblad - Netherlands | Tuesday, 5. June 2012

Europe's leaders must show their colours

Speaking at the EU-Russia summit on Monday, EU Council President Herman Van Rompuy announced he would present a plan for the development of the Eurozone by the end of the year. An important initiative, the business paper Het Financieele Dagblad writes: » more


Neue Zürcher Zeitung - Switzerland | Tuesday, 5. June 2012

No money for banks without rules

Before Spain and Cyprus bail out their ailing banks themselves a direct recapitalisation of their banks though the euro bailout fund (ESM) could be a solution, the liberal-conservative daily Neue Zürcher Zeitung writes. But in that case clear rules would be needed: » more


Dagens Nyheter - Sweden | Tuesday, 5. June 2012

Huge hole in Spain's banking sector

Independent consultants are currently drawing up a report on the situation of the Spanish banking sector. Despite Spain's generally good crisis management the result of the report doesn't bode well for the country, the liberal daily Dagens Nyheter fears: » more


La Vanguardia - Spain | Tuesday, 5. June 2012

Germany finally moving

Slowly but surely stringent Germany seems to be giving up its resistance to direct recapitalisation of ailing banks via the euro bailout mechanism, the liberal daily La Vanguardia comments with enthusiasm: » more


Blog Delito de Opinião - Portugal | Monday, 4. June 2012

Euro rescue proceeds at snail's pace

Although with José María Beneyto a high-ranking politician of Spain's ruling People's Party (PP) has for the first time openly discussed the possibility of Spain availing of the EU's bailout mechanism, things are still proceeding at a snail's pace in Europe, writes Luís Menezes Leitão in his blog Delito de Opinião: » more


The Times - United Kingdom | Monday, 4. June 2012

Ireland has learned its lesson

Ireland's discipline in dealing with the crisis sets an example for other European countries, writes the conservative daily The Times: » more


Kathimerini - Greece | Sunday, 3. June 2012

Europe still lacks common vision

In a pan-European appeal entitled We are all Greek Jews, prominent intellectuals have called attention to how right-wing populism is booming in a number of European countries, associating the phenomenon with the harsh austerity policy. The conservative daily Kathimerini doubts in its Sunday edition that the appeal will achieve anything: » more


La Stampa - Italy | Sunday, 3. June 2012

Merkel the true winner

If the Irish voted Yes to the fiscal compact it is because they were forced to bow to the dictates of Berlin, the liberal daily La Stampa writes: » more


Blog Coulisses de Bruxelles - Belgium | Friday, 1. June 2012

Irish more consistent than the Greeks

As opposed to the Greeks, the Irish have understood that they will have to redouble their efforts to redress their economy, writes Jean Quatremer in delight at the result of the referendum in his blog Coulisses De Bruxelles: » more


Delo - Slovenia | Monday, 4. June 2012

Crippled by fear

The Irish have only accepted the EU fiscal compact because they are paralysed with fear, the left-liberal daily Delo laments: » more


NRC Handelsblad - Netherlands | Friday, 1. June 2012

Don't get all excited about EU recommendations

In the list of country-specific recommendations he presented on Wednesday, European Commissioner for Economic Affairs Olli Rehn called on the Netherlands to also introduce structural reforms. The EU member states should adopt a pragmatic approach here and not make a fuss, writes the liberal daily NRC Handelsblad: » more


hvg - Hungary | Friday, 1. June 2012

Euro crisis is home made

The crisis of the Eurozone was clearly on the cards already in the planning stages, economist András Inotai writes in the left-liberal weekly paper Heti Világgazdaság: » more


Il Sole 24 Ore - Italy | Friday, 1. June 2012

Time for a banking union

Draghi's initiative aimed at forming a European banking union comes just at the right moment, the business paper Il Sole writes: » more


Blog 100 Reféns - Portugal | Thursday, 31. May 2012

High-on-the-hog MPs let others do the saving

Only those who know how to cook partridges and Black Iberian fed on a diet of acorns have a chance of getting a lease on the canteen in the Portuguese parliament, according to reports in the media. In these times of crisis in which normal citizens can barely afford a simple meal such menus are a disgrace, writes Tiago Mesquita in his blog 100 Reféns: » more


Les Echos - France | Friday, 1. June 2012

EU bank supervision long overdue

The establishment of a central European bank supervisory authority is long overdue, especially with the insolvency of the Spanish major bank Bankia, the liberal business paper Les Echos writes: » more


Cinco Días - Spain | Friday, 1. June 2012

Rajoy's policy bearing first fruits

Mario Draghi's call for a central bank supervisory authority shows that Spanish Prime Minister Mariano Rajoy's strategy may well be successful, the business paper Cinco Días writes jubilantly: » more


Handelsblatt - Germany | Friday, 1. June 2012

Not enough solidarity for banking union

There are two drawbacks to a European banking union as proposed first by the EU Commission and now by ECB chief Mario Draghi, writes the liberal business paper Handelsblatt: » more


Epikaira - Greece | Thursday, 31. May 2012

Günther Grass consoles the Greeks

Literature Nobel Prize laureate Günter Grass on Saturday published a new poem on current politics, this time backing the Greeks. The weekly Epikaira finds Grass's latest poem soothing: » more


Helsingin Sanomat - Finland | Friday, 1. June 2012

Referendum on fiscal pact irrelevant

The votes in Ireland's referendum on the fiscal compact will be counted today. But Europeans needn't get tied in knots over the result because the pact itself is redundant, writes the liberal daily Helsingin Sanomat: » more


Duma - Bulgaria | Thursday, 31. May 2012

Alexander Simov on Lagarde, Athens and the hypocrisy of the rich

IMF head Christine Lagarde recently called on the Greeks to pay their taxes, even though as an official of an international institution she herself doesn't pay a cent to the tax man. Columnist Alexander Simov explains in the socialist daily Duma why he has had enough of the hypocrisy of the rich: » more


Blog Ignacio Escolar - Spain | Thursday, 31. May 2012

Spain facing threat of EU bailout

The yields on Spanish bonds on Wednesday rose to their highest level since the introduction of the euro. Many fear that the EU will now intervene. Ignacio Escolar explains in his blog why seeking help from the bailout fund should be the last resort: » more


Jornal de Negócios - Portugal | Thursday, 31. May 2012

Portugal ignores visit by German economics minister

The German Minister of Economics Philipp Rösler has been paying a visit to Portugal together with several representatives of German companies since Wednesday. That the Portuguese press has largely ignored a visit which is of particular interest for exporters is distressing, writes the business paper Jornal de Negócios: » more


The Guardian - United Kingdom | Thursday, 31. May 2012

Rejecting the fiscal pact risky for Ireland

A no to the fiscal compact in the Irish referendum today would harm the economy, the left-liberal daily The Guardian predicts: » more


El Mundo - Spain | Wednesday, 30. May 2012

Rajoy gets rid of central bank chief

The head of the Spanish central bank, Miguel Ángel Fernández Ordóñez, announced on Tuesday that he would be stepping down from his post on June 10, a full month before his official term of office ends. Prime Minister Mariano Rajoy of the conservative People's Party forced his resignation to ameliorate the impact of a report written by the central bank chief that shows the government in an unflattering light, the conservative daily El Mundo writes, adding further perspectives: » more


The Irish Independent - Ireland | Wednesday, 30. May 2012

Fiscal pact too complex for a referendum

The Irish will vote on Thursday on whether Ireland should sign the fiscal compact, but the issues are too complex for most people, the conservative daily Irish Independent fears: » more


Le Soir - Belgium | Tuesday, 29. May 2012

Rich Belgians can save themselves

Belgium was able to issue bonds on Monday at very low interest rates of under three percent. But that is not just due to the country's austerity policy, writes the daily Le Soir: » more


Frankfurter Allgemeine Zeitung - Germany | Tuesday, 29. May 2012

Greek elite should finally pay taxes

IMF boss Christine Lagarde has advised the Greeks to focus on helping themselves by paying their taxes. The conservative daily Frankfurter Allgemeine Zeitung can't understand why this has caused such outrage: » more


Simerini - Cyprus | Monday, 28. May 2012

Cyprus needs more fiscal discipline

The government of the Republic of Cyprus is considering the option of seeking assistance from the EU bailout fund. So far the country has been able to keep its head above water only thanks to a loan from Russia. Cyprus has learned nothing from the crisis in Greece, the conservative daily Simerini complains: » more


Financial Times - United Kingdom | Tuesday, 29. May 2012

Ireland to vote on fiscal straightjacket

In the run-up to the Irish referendum on the EU fiscal compact on Thursday, the liberal business paper Financial Times paints a dark picture of the future of a European fiscal union: » more


Cinco Días - Spain | Tuesday, 29. May 2012

Brussels must help Spanish banks

The Spanish Prime Minister Mariano Rajoy tried to dispel doubts about the stability of the Spanish banking sector in a speech on Monday. But there are growing indications that the beleaguered country will need the help of its European allies and the ECB, writes business paper Cinco Días: » more


Diário de Notícias - Portugal | Friday, 25. May 2012

German austerity terrorising debtor states

Germany secured fresh capital for the next two years on Wednesday without having to pay any interest for it. That the heavyweights in the EU can continue to borrow on such conditions shows how sick Europe is, writes the daily Diário de Notícias: » more


Rzeczpospolita - Poland | Friday, 25. May 2012

Even Germany vulnerable to crisis

The Ifo business climate index for Germany, Europe's largest economy, plunged by a surprising three percentage points for the first time in months on Thursday. Europe and the world are facing hard times, the conservative daily Rzeczpospolita fears: » more


Le Monde - France | Friday, 25. May 2012

Athens must exit even if euro dies

The EU heads of state and government clearly want to keep Greece in the Eurozone. But the country's exit is the most reasonable long-term solution ... » more


The Economist - United Kingdom | Friday, 25. May 2012

Merkel's austerity threat to Monetary Union

Above all Germany's crisis policy is endangering the Monetary Union, writes the liberal business magazine The Economist: » more


WOZ - Die Wochenzeitung - Switzerland | Thursday, 24. May 2012

Greece's euro exit catastrophic for Europe

A Greek exit from the Eurozone would be a fatal blow to the European project, writes the leftist weekly WOZ: » more


Il Sole 24 Ore - Italy | Thursday, 24. May 2012

EU wasting time in its crisis management

Chancellor Merkel and President Hollande didn't come any closer to agreement on the subject of euro bonds, the business paper Il Sole 24 Ore laments: » more


Protagon.gr - Greece | Thursday, 24. May 2012

Greek bank run like in the war

Greece has seen capital flight soar since the May 6 election. Within a few days around 700 million euros were reportedly withdrawn from banks. News portal Protagon fears that the money will never return: » more


Trouw - Netherlands | Thursday, 24. May 2012

Euro bonds complement austerity

Austerity and euro bonds are not mutually exclusive, writes the Christian-social daily Trouw commenting on the EU special summit: » more


Expressen - Sweden | Thursday, 24. May 2012

Crisis countries must boost competitiveness

The crisis countries in the EU urgently need to boost their competitiveness, the liberal tabloid Expressen advises: » more


Les Echos - France | Thursday, 24. May 2012

Hollande on the wrong track with euro bonds

At the EU summit France's President François Holland has reinforced his demand for euro bonds which would enable debtor states to borrow money at advantageous rates on capital markets. But his proposal does nothing to make Europe's crisis countries more competitive, the liberal business paper Les Echos writes: » more


Main focus of Wednesday, 23. May 2012

Conflict over euro bonds divides EU

At the EU special summit to be held this evening in Brussels France's President François Hollande will call for the introduction of euro bonds, which ... » more


El País - Spain | Wednesday, 23. May 2012

Cuts in education increase inequality

Large numbers of teachers and pupils went on strike in Spain on Tuesday to protest cuts in the education sector. These cutbacks will only deepen the social divide, the left-liberal daily El País fears: » more


Kathimerini - Greece | Tuesday, 22. May 2012

Thilo Sarrazin's book revives euro debate

A huge media circus accompanied the presentation of Thilo Sarrazin's new book on Tuesday. The former board member of the German Bundesbank has managed to launch an interesting debate on the euro, the conservative daily Kathimerini notes: » more


Público - Portugal | Wednesday, 23. May 2012

End of austerity policy in sight

The discussion about euro bonds and a new growth offensive at today's EU summit is a sign of a gradual change in European economic policy according to the daily Público: » more


Financial Times Deutschland - Germany | Wednesday, 23. May 2012

Hollande not backing down on euro bonds

François Hollande is straining German-French relations with his call for the introduction of euro bonds, but until the president's campaign for the upcoming elections in his country is over he won't back down on his stance, the liberal business paper Fincancial Times Deutschland writes: » more


Corriere della Sera - Italy | Wednesday, 23. May 2012

Project bonds just a diversion

As an alternative to the euro bonds propagated by France, Germany has proposed so-called project bonds that would be used to finance cross-border infrastructure projects. But with this proposal the politicians are fleeing reality, economists Alberto Alesina and Francesco Giavazzi argue in the liberal-conservative daily Corriere della Sera: » more


Sme - Slovakia | Wednesday, 23. May 2012

Slovakia cannot rebel against Germany

The Slovakian Prime Minister Robert Fico will back France and speak out in favour of euro bonds at today's EU special summit. But he is in no position to rebel against Germany, writes the liberal daily Sme: » more


Diário de Notícias - Portugal | Tuesday, 22. May 2012

Athens threat to Portugal's progress

Portugal is expecting the fourth visit by inspectors sent by its creditors, the EU, the ECB and the IMF, this Tuesday. So far the troika has always given the country the thumbs-up for its implementation of the austerity and reform programme but spoil sport Greece may hurt Portugal's record, the daily Diário de Notícias writes: » more


Público - Portugal | Tuesday, 22. May 2012

Hollande brings a fresh wind to the Eurozone

French President François Hollande plans to call for the introduction of euro bonds at an informal EU summit on Wednesday, despite resistance to such a move from Germany. His chances of success aren't very high even if Berlin's power has dwindled, writes the daily Público: » more


Naftemporiki - Greece | Tuesday, 22. May 2012

Geuro won't prevent Grexit

The chief economist of the Deutsche Bank, Thomas Mayer, sees the idea of introducing a parallel currency to the euro in Greece, named the "geuro", as a viable alternative for preventing Greece's exit from the Eurozone. But a country with one foot out the door won't be long in leaving, the conservative business paper Naftemporiki fears: » more


Frankfurter Rundschau - Germany | Tuesday, 22. May 2012

Sarrazin's arguments have a grain of truth

The provocative former board member of the Deutsche Bundesbank Thilo Sarrazin brought out a new book this Tuesday entitled Europa braucht den Euro nicht (Europe doesn't need the euro). This time rather than attacking immigrants he directs his ire at the common currency, arguing that in contributing to the bailout fund Germany is merely seeking to assuage its Holocaust guilt. Sarrazin is a master of resentment because there is always a grain of truth to his arguments, the left-liberal daily Frankfurter Rundschau writes: » more


Die Presse - Austria | Tuesday, 22. May 2012

Thilo Sarrazin on desirable exits from the Eurozone

In his new book Europa braucht den Euro nicht (Europe doesn't need the euro), former Bundesbank banker Thilo Sarrazin takes aim at the wobbly single currency. The liberal-conservative daily Die Presse publishes an excerpt from the book, which went on sale on Monday: » more


ABC - Spain | Monday, 21. May 2012

Hollande fails, Merkel remains stubborn

The new French President François Hollande failed to convince other leaders of his economic policy concepts at the G8 summit, meaning Merkel still has the upper hand, the conservative daily ABC concludes: » more


Diário Económico - Portugal | Monday, 21. May 2012

Nothing but national egoism

The G8 summit at Camp David was nothing but a display of national egoism that ended without any concrete resolutions, writes the liberal business paper Diário Económico: » more


Imerisia - Greece | Saturday, 19. May 2012

Merkel strengthens markets' distrust

German Chancellor Angela Merkel is said to have recommended to the Greek president that a referendum be held in Greece on whether the country should remain in the Eurozone. Merkel's faux pas has only worsened the situation, writes business paper Imerisia: » more


Die Tageszeitung taz - Germany | Monday, 21. May 2012

Summit of the Baffled Eight

The heads of state and government of the G8 countries have failed to come up with solutions to the pressing problems of the EU, admonishes the left-leaning daily taz: » more


Contributors - Romania | Monday, 21. May 2012

Greek bankruptcy unlikely

Speculation over a Greek euro exit is unsettling Romanians because Greek banks hold roughly a quarter of the shares in local banks. The economist Cristian Socol nevertheless remains optimistic in the blog portal Contributors: » more


Welt am Sonntag - Germany | Sunday, 20. May 2012

Berthold Seewald on Greece's special treatment for historical reasons

The Greeks are receiving preferential treatment in Europe simply because 2,500 years ago they invented democracy and the Olympic Games, columnist Berthold Seewald complains in the conservative weekly Welt am Sonntag: » more


Corriere della Sera - Italy | Friday, 18. May 2012

G8 meeting full of drama

The heads of state and government of the G8 will convene at Camp David in the US on Friday evening. The main topic at the summit will be economic and financial policy. The rustic setting of the meeting will provide a fitting backdrop for its drama, speculates the liberal-conservative daily Corriere della Sera: » more


Jornal de Negócios - Portugal | Friday, 18. May 2012

Greece must leave Eurozone soon

Greece must leave the Eurozone as soon as possible, writes US economist Nouriel Roubini in the business paper Jornal de Negócios: » more


El País - Spain | Friday, 18. May 2012

France's reformed anti-Europeans

The new cabinet of French President François Hollande began its official business on Thursday. Now foreign policy will be dictated by politicians who spoke out against a European treaty in 2005, writes the left-liberal daily El País: » more


Main focus of Wednesday, 16. May 2012

Greece poised for new elections

The formation of an expert government in Greece failed on Tuesday, prompting President Karolos Paoulias to call new elections for June. According to commentators, the ... » more


The Times - United Kingdom | Wednesday, 16. May 2012

Paris and Berlin must reach compromise

Newly inaugurated French President François Hollande's first trip abroad led him to Berlin on Tuesday. It is vital that the two countries reach a compromise on overcoming the debt crisis, writes the conservative daily The Times: » more


Financial Times - United Kingdom | Tuesday, 15. May 2012

Exit good for Greece in the long term

Leaving the Eurozone could be very hard for Greece's crisis-ridden economy in the short term, but advantageous in the long term, writes the liberal business paper Financial Times: » more


Süddeutsche Zeitung - Germany | Tuesday, 15. May 2012

Claus Leggewie calls for green Marshall Plan for Southern Europe

Europe's economy needs growth, but not at the expense of future generations, writes political scientist Claus Leggewie in the left-liberal daily Süddeutsche Zeitung, proposing a green growth pact for southern European countries: » more


Sme - Slovakia | Tuesday, 15. May 2012

Test for Hollande in Berlin

François Hollande takes over the French presidency from his predecessor Nicolas Sarkozy today and will pay his first official visit to Chancellor Angela Merkel this evening. The two should show a spirit of compromise, writes the former French Minister for Europe Noëlle Lenoir in a commentary published by the liberal daily Sme: » more


Diário Económico - Portugal | Tuesday, 15. May 2012

Domino effect threatens other crisis countries

Greece's exit from the Eurozone could drag Portugal, Ireland and Spain into the abyss, the liberal business paper Diário Económico fears: » more


La Stampa - Italy | Tuesday, 15. May 2012

EU must show what it is capable of

Euro Group chairman Jean-Claude Juncker wants to do "everything possible" to keep Greece in the Eurozone. A noble goal that entails many risks, writes the liberal daily La Stampa: » more


Corriere del Ticino - Switzerland | Tuesday, 15. May 2012

Greece's radical Left gambling with high stakes

Greek President Karolos Papoulias has proposed the formation of a government of experts as a solution to the government crisis in his country. He plans to meet all the party leaders today - with the exception of the leader of the fascists - to discuss this possibility. If the talks fail new elections on June 10 or 17 would likely be inevitable. This is precisely what the boss of the leftist alliance Syriza, Alexis Tsipras, is hoping for, writes the liberal daily Corriere del Ticino: » more


Simerini - Cyprus | Monday, 14. May 2012

Cyprus must forestall troica

According to a recent report by the European Commmission, Cyprus' public debt is constantly growing and could increase by seven points next year, amounting to 78 percent of the country's gross domestic product. The conservative daily Simerini writes that the Cypriot government needs to act quickly before the country is forced to resort to the EU bailout mechanism: » more


Hospodárske noviny - Slovakia | Tuesday, 15. May 2012

Europe's politicians write off Greece

The financial markets and Europe's politicians are starting to prepare for Greece's exit from the Eurozone, the business paper Hospodářské noviny writes: » more


De Volkskrant - Netherlands | Monday, 14. May 2012

Europe's pressure on Greece dangerous

Greece's President Karolos Papoulias was unable to get the parties to agree on forming a government on Sunday. This makes fresh elections from which the leftist coalition Syriza under Alexis Tsipras could emerge the strongest force all the more likely. Even if it means running the risk of political uncertainty, Europe's leaders should not put Greece under pressure, the left-liberal daily De Volkskrant writes: » more


To Vima Online - Greece | Sunday, 13. May 2012

Euro exit would be fatal for Greece

As Greece still struggles to form a new government the calls for the country's exit from the Eurozone are growing louder. German Finance Minister Wolfgang Schäuble has said that the Eurozone is more resilient now than two years ago and could survive Greece's exit if necessary. The left-liberal online paper To Vima voices deep concern at this latest development: » more


i - Portugal | Monday, 14. May 2012

Portugal's prime minister insults unemployed

Portugal's liberal-conservative prime minister Pedro Passos Coelho last week exhorted the Portuguese to see the record level of unemployment as an opportunity, provoking fierce criticism which the daily i endorses: » more


El País - Spain | Monday, 14. May 2012

Election defeat for chancellor, too

The crushing defeat suffered by the CDU in the election in the key German state of North Rhine-Westphalia could have an impact on Merkel's Europe policy, writes the left-liberal daily El País, pointing to the fate of her predecessor Gerhard Schröder: » more


Kaleva - Finland | Monday, 14. May 2012

The spectre of populism haunts Europe

The elections in France and Greece have shown that far from being a passing phenomenon, populism has become a force to be reckoned within Europe, the liberal daily Kaleva writes: » more


Mladina - Slovenia | Monday, 14. May 2012

Slovenia follows dictates of the markets

The Slovenian parliament passed the government's austerity package for 2012 and 2013 on Friday. Public spending is to be cut by 500 million euros this year and 750 in 2013. Starting June, the salaries of public sector employees will go down by eight percent. But economising measures alone will accomplish nothing, as other countries in Europe have already shown, writes the left-leaning weekly Mladina: » more


Main focus of Friday, 11. May 2012

Hope for new government in Greece

The Democratic Left party in Greece has signalled its willingness to enter a coalition with Pasok and Nea Dimokratia during preliminary discussions. The parties all ... » more


The Economist - United Kingdom | Friday, 11. May 2012

Exit soon inevitable

A Greek exit from the Eurozone entails opportunities and risks, both for Greece and for the rest of the euro countries, the liberal weekly magazine The Economist writes: » more


Corriere del Ticino - Switzerland | Friday, 11. May 2012

Transfer union or get rid of euro

In the aftermath of the elections in France and Greece the debate over the future of the Eurozone has intensified. There are now only two options left: » more


Protagon.gr - Greece | Thursday, 10. May 2012

Renegotiate austerity

Greece must remain in the Eurozone and reach a new agreement with its creditors, writes economist Giannis Varoufakis on web portal Protagon: » more


Público - Portugal | Friday, 11. May 2012

The euro is a destructive utopia

The problems of the Monetary Union prove that the euro is a utopia that could end up destroying Europe, the daily newspaper Público argues: » more


Die Presse - Austria | Friday, 11. May 2012

Savers to pay for European sovereign debt

Germany's Bundesbank indicated for the first time on Thursday that it would accept higher inflation rates because of the European debt crisis. But what this really means is that people with savings would foot the bill for the public debt, writes the liberal-conservative daily Die Presse: » more


Hospodárske noviny - Slovakia | Thursday, 10. May 2012

Euro Group must get rid of Greek parasite

The Eurozone should not transfer more money to Greece while calling for reforms but simply exclude the country from the monetary union, writes the business paper Hospodárske noviny: » more


La Repubblica - Italy | Thursday, 10. May 2012

Help in little portions is a warning

The announcement that Greece will receive the withheld portion of the bailout tranche when the financial situation makes it necessary is just an excuse in the eyes of the left-liberal daily La Repubblica: » more


Kouti tis Pandoras - Greece | Wednesday, 9. May 2012

Who's afraid of left-wing spectres

According to the most recent surveys the leftist alliance Syriza would emerge the strongest party from fresh elections. On the web portal To Kouti tis Pandoras, blogger Kostas Vaxevanis says he can't understand why people are so afraid of a left-wing government in Greece: » more


Blog 100 Reféns - Portugal | Thursday, 10. May 2012

To hell with austerity for Portugal

The implementation of the austerity programme in Portugal is probably the worst political measure this country has witnessed since time immemorial, writes Tiago Mesquita in his blog 100 Reféns: » more


Le Figaro - France | Thursday, 10. May 2012

Hold the course at all costs

Europe's policy with regard to Greece must not change even in the wake of the parliamentary elections, writes the conservative daily Le Figaro, because allowing Greece to exit the Eurozone would be fraught with risk: » more


Main focus of Wednesday, 9. May 2012

Greek Left attempts to form a government

The leftist alliance Syriza under Alexis Tsipras was charged with forming a government in Greece on Tuesday. Before that the head of the conservative Nea ... » more


ABC - Spain | Wednesday, 9. May 2012

Prepare orderly exit from Eurozone

The election outcome in Greece may make the country's exit from the Euro-Zone inevitable, the conservative daily ABC writes, warning that such an event should be prepared with utmost care: » more


De Standaard - Belgium | Wednesday, 9. May 2012

Hendrik Vos on Europe's halting progress

Today is Europe Day, and although Europe may have little to celebrate it is far from throwing in the towel, writes the political scientist Hendrik Vos in the liberal daily De Standaard: » more


Kathimerini - Greece | Wednesday, 9. May 2012

Left-wing government should be put to test

Greece should test what it's like to have a left-wing government because only then will it understand what this actually means, writes the conservative daily Kathimerini: » more


Blog euinside - Bulgaria | Tuesday, 8. May 2012

Time is running out

Greece has no time to lose now because its creditors are at the end of their tether, warns the web portal euinside: » more


Blog Spiegelfechter - Germany | Wednesday, 9. May 2012

Media little more than mouthpiece of financial markets

Mirroring the reaction of the financial lobby, numerous German media have registered concern at the election results in Greece and France, writes Jens Berger in his blog Der Spiegelfechter: » more


Main focus of Tuesday, 8. May 2012

Greece struggles to form a government

The Greek conservative party Nea Dimokratia returned its mandate to form a coalition government on Monday. With 18.9 percent of the vote it had emerged ... » more


Le Soir - Belgium | Tuesday, 8. May 2012

Athens needs Hollande

After the failed attempt to form a government in Greece, France's future president François Hollande must make his move, writes the left-liberal daily Le Soir: » more


Financial Times - United Kingdom | Tuesday, 8. May 2012

Austerity or chaos

Greece runs the risk of chaos and a forced exit from the Eurozone should it decide against the austerity plan in the aftermath of Sunday's elections, fears the liberal daily Financial Times: » more


Neue Zürcher Zeitung - Switzerland | Tuesday, 8. May 2012

No growth without austerity

The election results in France and Greece are being interpreted as a political mood swing against the tough austerity policy, but the liberal-conservative daily Neue Zürcher Zeitung considers the hopes for growth without belt-tightening illusory: » more


Público - Portugal | Tuesday, 8. May 2012

Greece becomes test balloon

The elections in Greece are more important for Europe than those in France because they show whether democracy functions in times of crisis, writes the liberal daily Público: » more


Die Presse - Austria | Tuesday, 8. May 2012

Election results cause standstill

The consequences of the Greek elections will be dire, fears the liberal-conservative daily Die Presse: » more


Main focus of Monday, 7. May 2012

Hollande wins the second round

François Hollande is the new president of France. The Socialist won out against his conservative rival, the incumbent Nicolas Sarkozy, in the run-off vote on ... » more


The Times - United Kingdom | Monday, 7. May 2012

Europe needs to cut back and grow

After the presidential elections in France and the parliamentary elections in Greece on Sunday the conservative daily The Times calls for a European growth strategy: » more


Basler Zeitung - Switzerland | Monday, 7. May 2012

New president, new crisis policy

With the new French president there is the possibility of major changes in Europe's crisis policy, the conservative Basler Zeitung writes: » more


Naftemporiki - Greece | Monday, 7. May 2012

Greek parties must prove themselves

The winner of the elections in Greece is the left-wing alliance Syriza, which according to estimates will be the second-strongest faction in the parliament. Syriza doesn't want the country to repay its debts but wants it to remain in the monetary union. For their part the supporters of the austerity programme have narrowly missed a parliamentary majority. The conservative business paper Naftemporiki urges the parties to focus on forming a viable government: » more


Expresso - Portugal | Monday, 7. May 2012

Portugal's crisis hits only consumers

The discount campaign staged by Portugal's largest supermarket chain on May 1 has triggered a fierce debate about price politics in the food sector. Retailers certainly didn't do their customers any favours with this strategy, the left-liberal weekly Expresso concludes: » more


Kurier - Austria | Monday, 7. May 2012

Radical no won't help Greece

In the Greek elections the proponents of the austerity programme appear to have fallen short of a majority in parliament. But punishing the two parties Nea Dimokratia and Pasok for their belt-tightening measures and switching allegiance to the radical parties is no solution, writes the left-liberal daily Kurier: » more


Delo - Slovenia | Monday, 7. May 2012

Rigorous austerity angers Europeans

The strict austerity measures for combating the financial crisis have prompted the hardest-hit to vote their governments out of office, writes the daily Delo. "The ... » more


Main focus of Friday, 4. May 2012

ECB unwilling to lower base rate

ECB head Mario Draghi has called on European governments to do more for growth and the fight against unemployment in Europe. A lowering of the ... » more


Le Monde - France | Friday, 4. May 2012

Fruitless austerity provoking anger

The ECB met in Spain without proposing any solutions for the crisis-ridden country, the left-liberal daily Le Monde writes, calling for a change of course in the direction of growth policy: » more


Cinco Días - Spain | Friday, 4. May 2012

Eurozone caught up in vicious circle

In view of the reserved monetary policy of the ECB, José Luis Martínez Campuzano, a strategist for the Citigroup in Spain, warns in the business paper Cinco Días of the threat posed by rising risk premiums on government bonds: » more


La Stampa - Italy | Friday, 4. May 2012

Frankfurt and Brussels must make a move

ECB boss Mario Draghi has formulated his demand for a growth pact for the Eurozone in concrete terms while warning at the same time of the dangers of departing from the austerity policies. However this long awaited change in direction was prompted by necessity rather than a sudden change of heart, writes the liberal daily La Stampa: » more


Sol - Portugal | Friday, 4. May 2012

Cheap money won't solve crisis

It is dangerous to try to encourage growth merely by supplying easy money, writes the liberal weekly Sol: » more


Le Monde - France | Monday, 30. April 2012

Maxime Lefebvre and Vivien Schmidt see Europe strengthened by the crisis

The euro crisis and the French presidential elections have brought Europeans closer together, write the French political scientists Maxime Lefebvre and Vivien Schmidt in the left-liberal daily Le Monde: » more


The Irish Independent - Ireland | Wednesday, 2. May 2012

Painful path out of crisis for Irish

In the run-up to the Irish referendum on the ratification of the EU fiscal compact on May 31, the conservative daily Irish Independent points its ... » more


Jornal de Negócios - Portugal | Wednesday, 2. May 2012

Portuguese must take advantage of the crisis

In Portugal, thousands of people took part in May 1st demonstrations to protest the mounting encroachments on labour and social rights and the rising unemployment which the liberal-conservative government's stringent austerity programme entails. Trade unions and employers' associations alike should use the transformation process to reconstruct the foundations of the economy, the business paper Jornal de Negócios points out: » more


ABC - Spain | Wednesday, 2. May 2012

Trade unions lack support in Spain

Despite tough austerity measures and record levels of unemployment, a relatively small number of people took to the streets for the May Day demonstrations in Spain, the conservative daily ABC notes: » more


Financial Times - United Kingdom | Monday, 30. April 2012

Germany must help Spain's economy

While the Spanish government is restructuring its budget with cuts, voices are growing louder in Europe calling for more to be done to stimulate growth. The liberal business paper Financial Times agrees completely: » more


El País - Spain | Monday, 30. April 2012

Merkel wants growth at last

German Chancellor Angela Merkel talked in an interview on Saturday of a "European growth agenda", which is being widely interpreted as cautious approval of the growth pact under discussion in the EU. Finally things are moving in the right direction in the fight to overcome the crisis, the left-liberal daily El País comments enthusiastically: » more


Gazeta Wyborcza - Poland | Monday, 30. April 2012

Spain's credit rating continues to plunge

Rating agency Standard & Poor's lowered the credit status of Spain by two notches on Thursday and placed it on a negative outlook. In a commentary for the daily Gazeta Wyborcza, economist Rafał Benecki of the Polish bank ING BSK sees difficult times ahead for Spain: » more


Sol - Portugal | Friday, 27. April 2012

Markets have it tough with democracy

Share prices fell sharply on Monday mainly in response to the political and democratically legitimate decisions in France and The Netherlands as well as the recession in Spain. The volatile financial markets obviously have a hard time with democratic decisions, the liberal weekly Sol writes: » more


Le Point - France | Thursday, 26. April 2012

French close their eyes to reality

Many French people have let themselves be seduced by escapist positions that have little to do with reality, writes the liberal weekly Le Point with an eye to the Presidential elections in France in which extreme right and far left parties received one third of the vote: » more


The Daily Telegraph - United Kingdom | Friday, 27. April 2012

Boost growth in the UK

After the British government officially slipped back into a recession on Wednesday the conservative Daily Telegraph calls for a more aggressive growth strategy: » more


Cinco Días - Spain | Friday, 27. April 2012

Hollande misinterprets growth pact

ECB President Mario Draghi called for a "growth pact" for the Eurozone on Wednesday. In the French election campaign this call has been hailed as a turning point, which according to the business paper Cinco Días is an overstatement: » more


Main focus of Thursday, 26. April 2012

ECB head Draghi for more growth

Speaking in the European Parliament on Wednesday, ECB President Mario Draghi called for a "growth pact" for the Eurozone. Commentators approve of the proposal, ... » more


Cinco Días - Spain | Thursday, 26. April 2012

Spanish football must also economise

The Spanish government and the Spanish Football Federation signed an agreement on Wednesday obliging clubs to repay their high debts to the state - 673 million euros - in the coming year. The business paper Cinco Días approves: » more


Financial Times Deutschland - Germany | Thursday, 26. April 2012

Growth pact needs to be precisely defined

ECB chief Mario Draghi's call for a new European growth pact is a good idea but the details need to be quickly worked out, writes the liberal business paper Financial Times Deutschland: » more


Les Echos - France | Thursday, 26. April 2012

Recession forcing balancing act on Cameron

The UK registered a double-dip recession in the first quarter of this year for the first time since 2009, according to recent figures put out by the Office for National Statistics in London. Prime Minister David Cameron is now really in a tight spot, the business paper Les Echos writes: » more


Jornal de Negócios - Portugal | Thursday, 26. April 2012

Austerity threatens cohesion in Portugal

Portugal's President Aníbal António Cavaco Silva appealed for social cohesion in his crisis-stricken country in a speech marking the 38th anniversary of the Portuguese "Carnation Revolution" on Wednesday. But he forgot to denounce the injustices resulting from the government's austerity policy, which threaten to undermine solidarity in the country, the business paper Jornal de Negócios points out: » more


Ta Nea - Greece | Thursday, 26. April 2012

Euro crisis swallowing up governments

The euro crisis has caused the downfall of several governments in the past couple of years, also as a result of the austerity policy, the left-liberal daily Ta Nea observes: » more


La Repubblica - Italy | Thursday, 26. April 2012

More growth is the goal

Draghi's call for a growth pact goes in the right direction, writes the left-liberal daily La Repubblica: » more


Financial Times - United Kingdom | Thursday, 26. April 2012

Revolt against austerity

In view of the political developments in France and the Netherlands, the liberal daily Financial Times calls for an end to austerity policies: » more


Knack - Belgium | Wednesday, 25. April 2012

Europe clings to budget rules

The election results in France and the Dutch government crisis are signs of growing protest at Europe's strict budget rules, writes the left-liberal weekly newspaper Knack: » more


Lidové noviny - Czech Republic | Wednesday, 25. April 2012

Government stumbles over fiscal compact

The collapse of the Dutch government was unnecessary, according to the conservative daily Lidové noviny: » more


Le Monde - France | Wednesday, 25. April 2012

Clear signals against German austerity policy

The government in the Netherlands fell on Monday because right-wing populists refused to accept EU austerity measures, while in the French presidential elections the right-wing extremist Marine Le Pen won almost 20 percent of the vote in the first round. These are clear signs that people reject Germany's austerity policy, the left-liberal daily Le Monde contends: » more


Der Standard - Austria | Wednesday, 25. April 2012

You can't govern with the far right

The destructive policies of the right-wing populists make joint government impossible, writes the left-liberal daily Der Standard with reference to Geert Wilders, who rejected the austerity programme prescribed by the EU: » more


De Standaard - Belgium | Tuesday, 24. April 2012

The Netherlands no longer a model in Europe

After the Dutch governing coalition formed by the conservative-liberal People's Party for Freedom and Democracy (VVD) and the Christian Democrats (CDA) tendered its resignation to the Dutch Queen on Monday, rating agency Moody's warned that the country's credit status could be downgraded. The liberal daily De Standaard bemoans the decline of the political culture in this once exemplary neighbouring country: » more


La Stampa - Italy | Tuesday, 24. April 2012

The end of Germany's financial dominance is nigh

The potential change of government in France, the government crisis in the Netherlands and the disappointing economic data for the Eurozone caused share prices to dip by an average of three percent on Monday, with French and Dutch bonds increasingly coming under pressure. Germany's financial policy dictatorship is coming to an end, writes the liberal daily La Stampa: » more


El País - Spain | Tuesday, 24. April 2012

The Hague endangers European financial policy

The Dutch Prime Minister Mark Rutte tendered his government's resignation on Monday after the right-wing populist Geert Wilders withdrew his party's support for the minority government. The left-liberal daily El País fears that European consensus in the area of financial policy will be further undermined: » more


Il Sole 24 Ore - Italy | Sunday, 22. April 2012

Guido Rossi against Paul Krugman's theory on the end of the euro

The theory of Nobel laureate in economics Paul Krugman that Europe is committing economic suicide is wrong according to Guido Rossi. In the business paper Il Sole 24 Ore, the legal expert rejects Krugman's theory that Europe's only alternative now is to dissolve the monetary union: » more


Corriere della Sera - Italy | Friday, 20. April 2012

Antonio Puri Purini criticises Germany's detachment in the crisis

Faced with the persisting economic crisis in Europe Germany must give up its egoistic stance, writes Italian diplomat Antonio Puri Purini in the liberal-conservative daily Corriere della Sera, calling on German Chancellor Angela Merkel to be more cooperative: » more


Berliner Zeitung - Germany | Thursday, 19. April 2012

Rich Europeans after emerging economies' cash

Member countries of the IMF have already agreed to supply around 320 of the targeted 400 billion dollars to be kept in reserve for crisis loans, IMF head Christine Lagarde announced on Wednesday. But Europe should solve its crisis on its own and not go begging to the IMF, writes the left-liberal Berliner Zeitung: » more


La Stampa - Italy | Thursday, 19. April 2012

Monti's programme disappointing

Italy's Prime Minister Mario Monti presented the long awaited economic and financial programme for the next three years on Wednesday. Unfortunately the plans are lacking in substance, the liberal daily La Stampa complains: » more


Il Sole 24 Ore - Italy | Thursday, 19. April 2012

Berlin must be reasonable

In the report presented on Wednesday on the Greek bailout the EU Commission has reiterated the need for the  mutualisation of the Eurozone countries' public debts. But so far Berlin has refused to take this possible path out of the crisis, the business paper Il Sole 24 Ore complains: » more


Blog A Europa desalinhada - Portugal | Wednesday, 18. April 2012

IMF criticises Europe

The International Monetary Fund on Wednesday warned about a new debt crisis in Europe that could have global repercucussions. Under the leadership of its new director, French lawyer Christine Lagarde, the IMF is taking a more critical stance towards Europe than a year ago, writes Caroline de Gruyter in the blog A Europa desalinhada in the weekly Expresso: » more


Neue Zürcher Zeitung - Switzerland | Wednesday, 18. April 2012

Peter A. Fischer says Europe needs more austerity

The International Monetary Fund (IMF) has forecast 3.5 percent growth for the global economy in 2012. But while the emerging economies are growing rapidly the industrialised states are stagnating. Journalist Peter A. Fischer argues in the liberal-conservative Neue Zürcher Zeitung that increasing spending won't revive the economy in Europe: » more


Der Standard - Austria | Wednesday, 18. April 2012

Paul Krugman advises Spain to exit Eurozone

Spain's catastrophic economic situation is not a result of overspending, writes US Keynesian economist Paul Krugman in the daily Der Standard, but rather a consequence of the global financial crisis. His advice: » more


De Tijd - Belgium | Monday, 16. April 2012

Danger for Europe's engine

With his call for the European Central Bank (ECB) to play a stronger role in the euro crisis Sarkozy is distancing himself dangerously from Germany's position, the business paper De Tijd warns: » more


Les Echos - France | Friday, 13. April 2012

High inflation rate hinders Europe's growth

According to the ECB Monthly Bulletin published on Thursday, Europe's inflation rate for 2012 will exceed two percent. That will impede growth, writes the liberal business paper Les Echos: » more


Main focus of Thursday, 12. April 2012

Higher interest rates for crisis countries

The yields on Spanish and Italian bonds rose significantly on Tuesday, causing shares to plummet on Europe's stock markets. Some commentators argue that the prospect ... » more


Público - Portugal | Wednesday, 11. April 2012

António Vitorino and Vaira Vike-Freiberga on the EU's little big states

In recent months amidst the euro crisis Germany has been accused of dictating Europe's policies. This may be partially true as regards the efforts to fight the euro crisis but when it comes to European foreign policy the small EU states are coming into their own, write the Portuguese ex-EU commissioner António Vitorino and the Latvian ex-president Vaira Vike-Freiberga in the daily Público: » more


NRC Handelsblad - Netherlands | Wednesday, 11. April 2012

Spain's crisis threatens Eurozone

The yields on Spanish government bonds rose significantly on Tuesday, rocking European stock markets. The crisis continues to pose a major threat for Europe, the liberal daily NRC Handelsblad warns: » more


Jornal de Negócios - Portugal | Monday, 9. April 2012

Robert Shiller on the strength of euro symbolism

The common symbols on the euro banknotes could prevent the disintegration of Europe as a political entity even in the event that the Eurozone does collapse, writes US economist Robert J. Shiller in the business paper Jornal de Negócios: » more


ABC - Spain | Tuesday, 10. April 2012

More efficiency in Spain's healthcare system

Spanish Prime Minister Mariano Rajoy announced further cutbacks amounting to ten billion euros in the country's healthcare and education systems on Monday. These areas need to be reformed in the medium term, writes the daily ABC in support of the measure: » more


Cinco Días - Spain | Thursday, 5. April 2012

Okay for Germans to earn more

German public sector employers and trade unions agreed on Friday on a step-by-step 6.3 percent pay hike. At the same time Germany is demanding tough austerity measures from the rest of Europe. But although this may seem unfair at first glance it really isn't, writes business paper Cinco Días: » more