Tag Archives: Euro

German showdown with IMF looms as Bundestag blocks rescue funds

Germany’s ruling parties are to introduce a resolution in parliament blocking any further boost to the EU’s bail-out machinery, vastly complicating Greece’s rescue package and risking a major clash with the International Monetary Fund.

Chancellor Angela Merkel's office said an increase in the ESM was 'not necessary' since Italian and Spanish bond markets have already recovered Photo: AP

From The Telegraph, By , and Louise Armitstead, 10:25PM GMT 23 Feb 2012 –

Ambrose Evans-Prichard

“European solidarity is not an end in itself and should not be a one-way street. Germany’s engagement has reached it limits,” said the text, drafted by Chancellor Angela Merkel’s Christian Democrats and Free Democrat (FDP) allies.

Continue reading →

Eurosceptic delight at David Cameron’s tough line on EU institutions

PM told to stand up to Nick Clegg and block eurozone members from using EU institutions to police their new fiscal compact

Prime minister, David Cameron, has delighted Conservative eurosceptics with his hard line on EU institutions.

From guardian.co.uk, by Nicholas Watt, chief political correspondent, Monday 12 December 2011 15.44 EST – Eurosceptic ministers are to tell David Cameron to stand up to Nick Clegg and block the 17 members of the eurozone from using the institutions of the EU to police their new fiscal compact. Continue reading →

Facing Eurocollapse

Conrad Black

National Review Online, by Conrad Black, November 10, 2011 – As the world financial crisis deepens, it is unlikely that it can be alleviated without carefully reviewing the infelicitous confluence of mistakes in Europe and the United States that has brought it to its present extreme state. The European Monetary Union, involving 17 countries, was based on a number of generally admirable premises, but also on a couple of false assumptions. Continue reading →