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Should Germany Exit the Euro?

Should Germany Exit the Euro?

Last summer, financier George Soros urged Germany to agree to the establishment of the European Stability Mechanism, calling on the country to “lead or leave.” Now he says that Germany should exit the euro if it continues to block the introduction of eurobonds. Soros is playing with fire. Leaving the eurozone is precisely what the […]

Alternative for Germany

The newest political party in Germany, AfD (Alternative for Germany) is advocating a departure from the eurozone. AfD held its first national conference on 14 Apr., drawing in 1,500 of its nearly 10,000 members. The party includes many middle-class conservatives. Experts say it’s unlikely AfD will attract enough federal votes to earn a parliamentary seat, […]

The Accidental Empire

The Accidental Empire

It is now clear that the main cause of the euro crisis is the member states’ surrender of their right to print money to the European Central Bank. They did not understand just what that surrender entailed – and neither did the European authorities. When the euro was introduced, regulators allowed banks to buy unlimited […]

Spain: The Party’s Over

Spain: The Party’s Over

It was 7:30 on an ordinary weekday in Toledo, in the heart of Castile. In front of the local public employment agency, which would open at 8:00, dozens of people young to middle-aged waited in a long line. Their resigned expressions, drooping shoulders and aura of hopelessness drew a picture of Spain’s new reality, of […]

The Threat of German Amnesia

Europe’s situation is serious – very serious. Who would have thought that British Prime Minister David Cameron would call on eurozone governments to muster the courage to create a fiscal union (with a common budget and tax policy and jointly guaranteed public debt)? And Cameron also argues that deeper political integration is the only way […]

The Unsinkable Ship

If anyone was looking for a good movie to watch on Sunday 15 April, there was little to choose from. A documentary on the sinking of the Titanic, the James Cameron film Titanic, the 1953 Hollywood version, the 1958 docudrama A Night to Remember, a recent documentary on the wreckage of the Titanic, interviews with […]

Europe’s (New) German Problem

Once again, Europe is obsessed with the “German problem”: Greek protesters have portrayed Angela Merkel, the German chancellor, wearing a Nazi uniform; the Italian press has caricatured her donning a Kaiser-era spiked helmet; and a prominent member of the French national assembly, Arnaud Montebourg, wrote on his website in December that Germany’s “economic domination” today […]

Eurozone Crisis: A Public in Denial

On a recent visit to Europe, I found economists, journalists, and business people thoroughly frustrated with their politicians. Why, they ask, can’t politicians see the abyss that yawns before them, and come together to resolve the euro crisis once and for all? Even if there is no consensus on what a solution might be, can’t […]

Czechs reject EU fiscal pact

Czechs reject EU fiscal pact

The Czech Republic was planning to reject a new fiscal pact to be signed by EU leaders on 1 Mar., joining the U.K. as the only other opposing member. Czech Prime Minister Petr Nečas of the centre-right Civic Democrat Party stated three reasons for the withdrawal. According to Czech daily Lidove Noviny: the country’s limited […]

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