As Merkel Goes, So Goes the European Union
The European Union is likely to take a step to finalize the Continent’s economic and financial recovery strategy. And make no mistake: We all have an interest in this phase of Europe’s protracted struggle to reshape itself. This Thursday, Mario…
Three Global Hotspots that Can Damage the Recovery
Wories to the west of us, worries to the east. It is hardly the kind of August to encourage us to head for the beach and try to get through Proust for the 16th time. There are signs we are…
Can Draghi Turn the EU Ship Around in Time?
What a roller coaster ride Europe has embarked upon. A week ago Mario Draghi, the president of the European Central Bank, made his now-famous “whatever it takes” remark in defense of the euro, and the markets bounded upward. Since then…
At Last, a Smart Life-Saving Plan for Europe
Whatever it takes” seems to have acquired a totemic meaning among the world’s central bankers. It has long been among the favored market-calming phrases uttered by Ben Bernanke, chairman of the U.S. Federal Reserve. Now Mario Draghi, head of the…
Europe’s Juggling Act: Cuts, Tax Hikes, Bailouts
On the face of it, last week did not look like a very good one for Europe—not if you think it is time to push growth as well as fiscal discipline. Just days after Spain announced a $79 billion package…
How the EU Got Its Mojo Back–19 Summits Later
LONDON— By my count it took 19 European Union summits since the Greek economy began to crack three years ago, but EU leaders have finally finished dithering. At the summit in Brussels last week, we can now look forward to…
EU Crisis: This Week Could Change the Global Economy
LONDON—This looks like “the week that was” for Europe, as it prepares for a European Council summit in Brussels this Thursday and Friday. As of Monday evening, a 10-page draft document will begin circulating among EU leaders, outlining a new,…
After Greece: Radical Overhaul of EU is Next
LONDON—Most of Europe breathed an almost audible sigh of relief late Sunday evening, when the results of the most important elections in modern Greek history became clear. The center-right New Democrats, which took 29.7 percent of the vote, are firmly…
Spain Cuts a Deal: How Short is the Leash?
LONDON—As recently as last Friday Spanish officials, including Finance Minister Luis de Guindos, were offering investors and the markets sanguine reassurance that, no, there would be no need for a European rescue plan for Spain’s ailing banks. Spain could handle…
EU Crisis: How to Avert a Global Economic Depression
Remember back in the 1990s, when globalization was supposed to be the greatest thing since Saran Wrap? Maybe someday it will prove to be so, but right now we are walking on the dark side of the moon. Everything seems…
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