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The row over debt mutualisation

Europe's crisis countries are pushing for the mutualisation of Eurozone debt, a plan Germany rejects before central control over national budgets has been established. Must the euro states relinquish sovereignty to save the single currency?

Süddeutsche Zeitung - Germany | Thursday, 11. April 2013

Euro bonds won't solve structural problems

US star investor George Soros has made a vehement case for the introduction of euro bonds and criticised Berlin for rejecting the idea. But these joint bonds are not a panacea for Europe's crisis, the left-liberal Süddeutsche Zeitung counters: » more

Spiegel Online - Germany | Wednesday, 10. April 2013

George Soros sees eurobonds as the solution to the crisis

Europe needs eurobonds to overcome the crisis, the Hungarian-born US star investor George Soros writes: » more

Die Tageszeitung taz - Germany | Friday, 7. December 2012

Germany thwarts EU reform plans

One week before the EU summit, Council President Herman Van Rompuy has presented proposals for restructuring the European economic and monetary union. However the euro bonds Germany has rejected all along are no longer part of the plan, the left-leaning daily taz criticises: » more

Lidové noviny - Czech Republic | Tuesday, 23. October 2012

Brexit would be a catastrophe

The conflict between Germany and the UK over the EU budget is coming to a head. According to a report by the Financial Times Deutschland, Chancellor Angela Merkel is considering having the budget summit planned for November called off if Prime Minister David Cameron holds to his veto against a raise. The conservative daily Lidové noviny fears the British may react out of spite: » 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

Main focus of Friday, 12. October 2012

IMF says goodbye to austerity dogma

IMF Chief Christine Lagarde has called on the Eurozone to give the crisis countries more time to fulfil the austerity terms. She admitted that the ... » more

Kathimerini - Greece | Friday, 12. October 2012

Merkel's visit pays off

The IMF's warnings about too much austerity and Angela Merkel's visit to Athens raise the conservative daily Kathimerini's hopes that the austerity measures will be eased: » more

Sydsvenskan - Sweden | Friday, 12. October 2012

Europe's most difficult patient

IMF chief Lagarde's proposal to give Greece more time won't solve the dilemma the EU currently faces, the liberal daily Sydsvenskan laments: » more

Main focus of Wednesday, 10. October 2012

Merkel and Samaras face future together

German Chancellor Angela Merkel stressed during her visit to Athens on Tuesday that she wants Greece to remain in the Eurozone and promised the country ... » more

De Volkskrant - Netherlands | Wednesday, 10. October 2012

The big game of Monopoly continues

Angela Merkel's professions of solidarity were just empty phrases, columnist Sheila Sitalsing mocks in the left-liberal daily De Volkskrant: » more

Les Echos - France | Wednesday, 10. October 2012

No one will observe terms of fiscal pact

The French National Assembly approved the European Fiscal Compact on European Budget Discipline on Tuesday. But the pact itself is no more than symbolic, the liberal business paper Les Echos writes: » more

Blog Pitsirikos - Greece | Tuesday, 9. October 2012

See you later Mrs Merkel

Merkel's visit to Athens has no significance for the Greeks and can do nothing to help save the country, blogger Pitsirikos writes: » more

Financial Times - United Kingdom | Wednesday, 10. October 2012

Merkel gambles and wins

Angela Merkel has shown courage and sent the right signals, the liberal business paper Financial Times writes: » more - Germany | Tuesday, 9. October 2012

A strong signal of solidarity

Merkel and Samaras have demonstrated in Athens that the fates of their countries are inextricably bound together, the news portal notes with relief: » more

Main focus of Tuesday, 9. October 2012

Merkel visits the centre of the crisis

German Chancellor Angela Merkel travels to Greece today for the first time since the start of the euro crisis. The visit is accompanied by a ... » 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

Main focus of Monday, 1. October 2012

Protest against Hollande's austerity policy

Thousands of French citizens demonstrated in Paris on Sunday against François Hollande's austerity policy and the EU fiscal pact, the ratification of which the French ... » more

Die Presse - Austria | Saturday, 29. September 2012

Steinbrück's realism just right for Europe

The executive board of the German Social Democratic Party (SPD) will officially nominate the former finance minister Peer Steinbrück today, Monday, as chancellor candidate for the parliamentary elections in 2013. The liberal-conservative daily Die Presse is delighted, as Steinbrück belongs to the pragmatic Left: » more

Tages-Anzeiger - Switzerland | Thursday, 27. September 2012

Switzerland making euro crisis worse

In an analysis released on Tuesday, the rating agency Standard & Poor's indirectly blamed the Swiss National Bank's purchases of foreign currency, aimed at bringing down the franc's exchange rate, for the disparities in Eurozone interest rates. The more the euro crisis escalates, the more difficult it will be for Switzerland to avoid its impact, the liberal daily Tages-Anzeiger writes: » more

De Groene Amsterdammer - Netherlands | Wednesday, 26. September 2012

Europe's foreign ministers lack a plan

Together with ten of his EU colleagues the German Foreign Minister Guido Westerwelle last week presented a paper outlining a "New Vision of Europe". It is nothing but the hollow phrases of political pygmies, the economist Ewald Engelen concludes scathingly in the left-leaning weekly De Groene Amsterdammer: » more

Dienas Bizness - Latvia | Monday, 24. September 2012

Latvia better off without euro

The states that joined the EU in 2004 committed in their accession agreements to converting to the euro as soon as they fulfil the Maastricht criteria. According to the business paper Dienas Bizness, Latvia should reconsider its plans to join the Eurozone in 2014: » more

Wiener Zeitung - Austria | Thursday, 20. September 2012

For George Soros Germany can leave the Eurozone

Germany can leave the euro crisis if it wants to solve the euro crisis, the US investor George Soros writes in the state-run liberal daily Wiener Zeitung: » more

Turun Sanomat - Finland | Monday, 17. September 2012

Deeper EU integration still far off

EU Commission President José Manuel Barroso defended on the weekend his calls for the creation of a European federation of nation states. But this vision will be exceedingly difficult to put into practice, the liberal daily Turun Sanomat fears: » more

Main focus of Thursday, 13. September 2012

German Constitutional Court approves ESM

Germany's Constitutional Court on Wednesday ruled in favour of Germany participating in the European Stability Mechanism. However the country's liability may not exceed a fixed ... » more

Il Sole 24 Ore - Italy | Thursday, 13. September 2012

Germany's questionable double standards

The fact that Germany's liability is limited to 190 billion euros for the ESM unless the German parliament gives the go-ahead for more is further evidence of Germany's double standards, the liberal-conservative business daily Il Sole 24 contends: » more

Spiegel Online - Germany | Thursday, 13. September 2012

Green light for fiscal union

With its decision Germany's Constitutional Court has revised its previous decisions on the relationship between the EU and national states, and paved the way for the creation of a European fiscal union, writes business journalist Wolfgang Münchau on the news portal Spiegel Online: » more

Hospodárske noviny - Slovakia | Thursday, 13. September 2012

EU becomes an oligarchy of the privileged

The ruling by the German Constitutional Court gives a carte blanche to anyone who wants to rack up debts unhindered, the business paper Hospodárske noviny laments: » more

Polityka Online - Poland | Thursday, 13. September 2012

No alternative to ESM

Germany's Constitutional Court did the right thing with its ruling and has contributed to saving the euro, the left-liberal news portal Polityka writes: » more

Rzeczpospolita - Poland | Tuesday, 11. September 2012

Cooperation instead of bank supervision

The EU Commission will present a proposal for a central banking supervisory authority on Wednesday. But bank supervision must not go hand in hand with debt mutualisation, writes Paweł Borys, strategy director at the Polish bank PKO BP, in the conservative daily Rzeczpospolita: » more

Süddeutsche Zeitung - Germany | Wednesday, 5. September 2012

Central bank joker just a quick fix

Past experience has already shown that ECB intervention can't provide a lasting solution to the crisis, the left-liberal daily Süddeutsche Zeitung points out, arguing against the financing of government bonds: » 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

La Tribune - France | Thursday, 30. August 2012

Hans-Werner Sinn wants clarity at last about the ESM

The German Constitutional Court will rule on the legality of the ESM euro bailout fund and the fiscal compact on September 12. The decision is of fundamental importance for the future of Europe, writes Hans-Werner Sinn in the left-liberal business paper La Tribune: » more

Süddeutsche Zeitung - Germany | Monday, 20. August 2012

Avoid hectic EU deepening

After the leader of the German opposition Social Democratic Party (SPD) Sigmar Gabriel and the leader of the SPD in the German parliament, Frank-Walter Steinmeier, now a third high-ranking SPD politician, ex-finance minister Peer Steinbrück, has spoken out in favour of debt consolidation in the Eurozone. But a major reform of Europe would overtax the monetary union at this point in time, warns the left-liberal daily the Süddeutsche Zeitung, calling for more patience: » more

Blog EUROPP - United Kingdom | Thursday, 16. August 2012

Antonio Lettieri on the fiscal union as a receivership

ECB head Mario Draghi and Italy's Prime Minister Mario Monti have repeatedly argued for the quick implementation of a European banking and fiscal union. But this could force the crisis countries into a blatant state of dependency, Antonio Lettieri fears in the blog EUROPP of the London School of Economics: » 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

Imerisia - Greece | Thursday, 9. August 2012

Berlin's crisis policy set to change

In the Monday edition of the German newspaper Berliner Zeitung the leader of Germany's opposition Social Democratic Party, Sigmar Gabriel, voiced support for the idea of introducing Eurozone debt mutualisation in the long term. This hails a change of policy in Berlin, writes the business paper Imerisia, saying that this reorientation will change the mood in Germany and all Europe: » more

Main focus of Tuesday, 7. August 2012

Technocrat Monti under fire

Italian Prime Minister Mario Monti has drawn a barrage of criticism from Berlin and Brussels by saying in an interview published in the latest issue ... » more

Die Presse - Austria | Tuesday, 7. August 2012

Democracy just gets in the way in Montiropa

Monti's technocratic stance reveals the lack of democratic thinking among EU elites, writes the liberal-conservative daily Die Presse, arguing that in the long term this will hurt the European project: » more

Corriere del Ticino - Switzerland | Tuesday, 7. August 2012

Germany a scapegoat

Monti's words were directed at Germany because unfortunately it has become a favourite pastime to use Germany as a scapegoat, the liberal daily Corriere del Ticino notes: » more

Il Sole 24 Ore - Italy | Tuesday, 7. August 2012

Italy's prime minister hits Berlin's sore spot

The way German politicians have overreacted shows that Mario Monti has hit a German sore spot with his thoughts on the rights of national parliaments, the liberal-conservative business paper Il Sole 24 Ore writes mockingly: » 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

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

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

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

Süddeutsche Zeitung - Germany | Wednesday, 1. August 2012

ESM won't be gravy train for indebted countries

Leading Eurozone countries like France and Italy want the ESM bailout fund to be endowed with a banking licence so that it can take out unlimited loans with the European Central Bank and use them to purchase even more government bonds, according to a report in the Süddeutsche Zeitung. In an opinion piece the left-liberal daily tries to assuage Germany's fears: » more

La Repubblica - Italy | Wednesday, 1. August 2012

Paul Krugman hopes Germans will see the light

The European Central Bank is expected to take an important step in saving the euro on Thursday. Economic Nobel Prize laureate Paul Krugman voices his support in the left-liberal daily La Repubblica for ECB President Mario Draghi and his proposal to purchase government bonds: » more

Corriere della Sera - Italy | Wednesday, 1. August 2012

ECB should not help crisis states

In the run-up to the meeting of the governing council of the European Central Bank this Thursday, the crisis states are expecting not just further cuts in interest rates but also a signal that in future the ECB will purchase the bonds of struggling states. Italy is also putting its hopes in this form of support - which in the liberal-conservative daily Corriere della Sera, economists Alberto Arlesina and Francesco Giavazzi describe as entirely inappropriate: » 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

Main focus of Friday, 27. July 2012

Draghi gives hope to crisis states

The head of the ECB Mario Draghi has signalised that the Central Bank will take stronger action in the debt crisis and provide further support ... » more

Naftemporiki - Greece | Friday, 27. July 2012

Hopes that Draghi will keep his word

Following Mario Draghi's statement the ECB would do whatever it takes to resolve the euro crisis and his vague hints regarding the bank's purchase of government bonds the conservative daily Naftemporiki hopes that he will keep his promise: » more

La Repubblica - Italy | Friday, 27. July 2012

Silent consent from Angela Merkel

An independent intervention by the ECB would allow for a solution to the euro crisis that goes against Angela Merkel without her losing face, the ... » 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

Neue Zürcher Zeitung - Switzerland | Wednesday, 25. July 2012

A painful message for Germany

What Moody's is really saying is that Germany will be footing the bill for the Eurozone problems, no matter what it does, explains the liberal-conservative Neue Zürcher Zeitung: » more

Diário de Notícias - Portugal | Tuesday, 24. July 2012

Terrifying austerity package won't help Spain

In view of the recent turbulence on Europe's stock markets the daily newspaper Diário de Notícias criticises Berlin's obstructive behaviour: » more

Kathimerini - Greece | Friday, 20. July 2012

Sovereignty no joking matter for Greeks

The 100 year agreement with which the island of Ikaria in the North Aegean obtained its independence from the Ottoman Empire and joined Greece in 1912 expired on Tuesday. The Italian daily Libero used the occasion to publish a humorous piece on Monday according to which the islanders are now considering leaving Greece and joining Austria. The daily Kathimerini is surprised at the violent reactions the article sparked in Athens: » more

Frankfurter Rundschau - Germany | Tuesday, 17. July 2012

German judges take their time despite euro crisis

The German Constitutional Court in Karlsruhe announced on Monday the date on which it will deliver its ruling on the ESM euro bailout fund. The judgement on the corresponding urgent appeals can be expected for September 12. According to the left-liberal Frankfurter Rundschau it's good that the judges are taking their time to examine the case despite the euro crisis: » 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

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

Cinco Días - Spain | Wednesday, 11. July 2012

The apparently successful Spain experiment

The agreement on the bank bailout in Spain could serve as a model for bank supervision throughout the Eurozone, the business paper Cinco Días writes: » more

Il Sole 24 Ore - Italy | Wednesday, 11. July 2012

Constitutional Court ruling eagerly awaited

After the first day of hearing on Tuesday the German Constitutional Court plans to spend several weeks examining the urgent appeals against the fiscal compact and ESM bailout fund, which have already been approved by the German parliament. A risky delay in the name of democracy, writes the liberal-conservative business paper Il Sole 24 Ore, and hopes that the result will be worth waiting for: » more

La Stampa - Italy | Wednesday, 11. July 2012

Struggling states relieved about easier assistance

At their meeting in Brussels, the finance ministers of the Euro Group have taken further steps towards enabling the ESM to purchase the government bonds of countries encountering difficulties. Italy and Spain had pushed through this expansion of the euro bailout fund's powers at the EU summit at the end of June. The liberal daily La Stampa is delighted to see that Italian Prime Minister Mario Monti's efforts have evidently borne fruit: » more

Der Standard - Austria | Wednesday, 11. July 2012

A divided community lacking energy

Luxembourg's Prime Minister Jean-Claude Juncker will remain the head of the Euro Group for the time being. The fact that the finance ministers couldn't agree on a replacement although Juncker wants to step down shows how at odds the Eurozone countries are, the left-liberal daily Der Standard comments: » more

Frankfurter Rundschau - Germany | Tuesday, 10. July 2012

Stephan Hebel on Angela Merkel's lie

German Chancellor Angela Merkel's European policy is based on one-sided political interests, author Stephan Hebel writes in the left-liberal daily Frankfurter Rundschau: » more

Corriere del Ticino - Switzerland | Tuesday, 10. July 2012

EU bailouts can't replace budget measures

At their meeting in Brussels the finance ministers of the Euro Group passed an emergency rescue package of 30 billion euros for Spain's banks, with help for Greece and Cyprus soon to follow. However this assistance does not relieve the governments of the task of implementing drastic austerity measures, the liberal daily Corriere del Ticino writes: » more

Il Sole 24 Ore - Italy | Tuesday, 10. July 2012

Berlin not in a hurry on euro crisis

Despite the immediate help for Spain's banks the yield on Spanish bonds reached a critical level at over seven percent on Monday. On the same day Germany benefited from negative interest rates on its own government bonds. Obviously the crisis is not hurting everyone, and this is why the meeting's basic agenda has been postponed, the liberal-conservative Il Sole 24 Ore concludes: » more

Sme - Slovakia | Tuesday, 10. July 2012

Constitutional Court will decide euro's fate

The German Constitutional Court will start examining the question of whether the ESM euro bailout fund and the fiscal compact for budgetary discipline are compatible with Germany's Basic Law today, Tuesday. A decision is expected in a few weeks. The liberal daily Sme talks of the approach of a "predetermined breaking point" for the euro: » more

Kainuun Sanomat - Finland | Tuesday, 10. July 2012

Banking union hardly possible for Finns and Germans

The Finnish Finance Minister Jutta Urpilainen declared in an interview in the run-up to the meeting with her European colleagues that Finland would rather quit the Eurozone than pay for the debts of other countries. Although Helsinki is unlikely to carry out its threats unilaterally, the fact is that Finland and Germany will have trouble tolerating the next steps planned for solving the crisis, the liberal daily Kainuun Sanomat argues: » more

Profil - Austria | Monday, 9. July 2012

Treat all big banks the same

The rescue programme of up to 100 billion euros for Spain's banks agreed by the finance ministers of the Eurozone on Monday is a sensible ... » more

Corriere della Sera - Italy | Monday, 9. July 2012

Euro rescue is a matter of timing

German Chancellor Angela Merkel and French President François Hollande are working towards the same goal, saving the euro, but they have different priorities, the liberal-conservative daily Corriere della Sera concludes, and puts its hopes in Angela Merkel's powers as a leader: » more

Il Sole 24 Ore - Italy | Thursday, 5. July 2012

German-Italian harmony deceptive

The demonstrative consensus between German Chancellor Angela Merkel and Italian Prime Minister Mario Monti at a meeting in Rome on Wednesday can't conceal the many differences that separate the two countries, the liberal-conservative business paper Il Sole 24 Ore fears: » 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

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

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

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

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

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

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

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

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

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

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

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

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


Original in German

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