Europe Ponders Tougher Budget Rules

Europe’s finance ministers agreed last week to review each other’s national budgets in the future to prevent one or several member states from imperiling the stability of the common currency as happened in Greece this April. The move may end being a step in the right direction but little more than that. The finance chiefs […]

Europe Braces for Spending Cuts

While the Greek debt crisis and subsequent decline of the euro continue to worry investors around the world, the people of Europe are preparing for severe austerity measures, and not just in the troubled south. With hundreds of billions of euros pledged to stabilize the common currency, European leaders are forced to make major cutbacks […]

Saving the Euro

Bending the rules of euro management, European leaders and finance ministers agreed to an unprecedented effort to guarantee the stability of the eurozone with loans adding up to nearly $1 trillion (or €750 billion) this weekend. In spite of the multibillion euro rescue package previously pledged to Greece, investors continued to worry about the unsound […]

German Soldiers in Afghanistan Protest

Defense Tech reports that German soldiers in Afghanistan are silently protesting against the perceived ambiguity of their mission’s purpose by snapping up patches that read “I fight for Merkel.” The patches, technically illegal, are a big seller among German soldiers at Mazār-e Sharīf. The country’s ISAF forces have been hit hard in recent weeks, losing […]

Euro Resentment Demands New Rules

Euroskepticism is abound anew. Where previously economist Paul Krugman argued that Greece could have weathered its fiscal crisis if it had retained its own currency, Judy Dempsey reports that Germans are increasingly nostalgic for their Deutsche Mark. “For Germans,” writes Dempsey, “the mark was more than just currency.” It represented the country’s postwar recovery, the […]

Europe’s Egg Shortage

It’s difficult to get about some eggs in the eastern parts of the Netherlands these days. Supermarkets are experiencing serious shortages there because large supplies of eggs have been bought up by German wholesalers. The Netherlands has always been one of the world’s greatest exportors of eggs but usually not at a disadvantage to the […]

Europe’s Uneven Recovery

Europe’s massive deficit spending is finally catching up with it. As Stefan Theil writes for Newsweek, markets reacted sharply this week “after rating agencies downgraded the public debt of Greece and warned about the outlook for several others.” With a deficit running at over 12 percent of GDP, Greece runs a serious risk of becoming […]

Merkel Government Under Pressure

Pressure is building on German chancellor Angela Merkel and her defense minister, Karl-Theodor zu Guttenberg, to account for the German-ordered NATO attack in Afghanistan last September that killed 142 people, many of them civilians. Guttenberg, formerly minister for economics, took charge of the Defense Department last October as member of Chancellor Merkel’s second cabinet. The […]