euro
Pesetas, liras, franks and drachmas: euro is living on borrowed time
Multiple defaults, a return to the lira, pesetas and francs, the break-up of the monetary union and Europe comes crashing down. Sounds like an endless chain of unreal events? Perhaps not: the end of the common currency is no longer a taboo for European press and economists
euro, italy, best of cafebabel.com, euweek, economical crisis, spain, germany
Belgian, Polish, Spanish and German media on last EU summit of 2011
At the EU summit that kicks off on 8 December in Brussels a number of countries are unwilling to go along with proposals by Germany and France to amend the EU treaties as a means of controlling the debt crisis. The German government refuses to make concessions. Disunited Europe must succeed even though it seems doomed to run aground, the press write
euro, money, economic growth, angela merkel, brussels, euweek, economical crisis
Do the Merkel, Monti and Sarkozy dance
On 24 November German chancellor Angela Merkel and French president Nicolas Sarkozy agreed on plans to amend the EU treaties to impose budget discipline on the 17 eurozone countries. Italian prime minister Mario Monti also supports the initiative
euro, angela merkel, europe, nicolas sarkozy, eurozone, euweek, mario monti
Oh joy Rajoy – conservatives take power in Spain after 8 years
On 21 November early elections in Spain saw the people’s party take power from the socialists in an absolute majority to be led by Mariano Rajoy. It is Europe’s fifth government to fall because of the eurozone crisis. The French, Spanish, Italian, Austrian and local press say: ‘reforms, reforms, reforms’
Greek referendum, ghastly mistake? Britain, Portugal, Germany, France and Latvia react
Despite massive criticism and shares dropping worldwide, Greek prime minister Giorgos Papandreou is going ahead with the planned referendum. His cabinet voted for a referendum on austerity measures on 1 November. Some commentators dismiss the move as irresponsible; others praise the democractic act
euro, greece, eurozone, currency, euweek, andreas papandreou, monetary union
Eurozone crisis what crisis? 50% of Greece's debt cut
On 26 October the 27 heads of state and government of the European Union reached agreement in Brussels on a debt restructuring and new rescue package for Greece, among other things. Last chance saloon for Athens, say French, Austrian, Spanish and Greek commentators
German, Dutch and Finnish reactions on Greece insolvency
After the discussion about allowing Greece to go bankrupt was reignited in Germany, share prices and the the euro exchange rate dropped on 12 September. While some commentators see the discussion as sheer populism that could have catastrophic repercussions, others say insolvency and a euro exit for Greece are well worth considering
euro, economic growth, europe, eurotopics, greece, piigs, euweek
Spanish, Belgian media on Portuguese prime minister resignation
José Sócrates handed in his resignation on 23 March after the austerity measures proposed by his minority government were rejected by parliament. The interest rates for Portuguese government bonds then rose to record highs while the euro dropped on currency markets. The eurozone can only avoid new perils when everyone understands that the times of plenty are over, writes the press
euro, portugal, euweek, josé sócrates, economical crisis, politics
Estonia: blowing hot and cold in the eurozone
In the midst of the euro crisis Estonia is saying goodbye to its kroon and on 1st January 2011 it introduced the single currency. Given the problems in Ireland, Portugal and Spain, this is one of the few pieces of good news for monetary union this year
euro, currency, estonia, monetary union, baltic republics, economy
Greece crisis: lowdown on Germany's role, US credit agencies and more
Interview with French economist Céline Antonin ahead of the eurogroup summit on 7 May, where the attendees should confirm their €110 billion financial aid package to Greece, and the three burning questions arising from the crisis which also apply to the European union
euro, stability and growth pact, europe, greece, piigs, schengen zone, financial crisis
Satirists Clark and Dawe take on eurozone crisis - in 2 minutes 35
We're always a bit baffled by the ins and outs of the eurozone here at cafebabel.com - so it was nice to catch this little Youtube video circulated by the FT's chief economics commentator. Hilarious, though frightening
Enough with the 'hard-working Germans paying for lazy Greeks'
In a spirit against nationalist agitation and economic ignorance, the presidents of the European movements in Berlin and Athens signed a common German-Greek manifesto for Europe on 5 May 2010. Here's what they have to say on a day that the 750 billion euro rescue package is agreed
euro, nationalism, greece, piigs, berlin, monetary union, economical crisis
The plan, Sam? Europe on 9 May 2010
9 May 2010 marks the sixtieth anniversary of the Schuman declaration, which led to the eventual creation of the European Union. It's an understatement to say the EU's been suffering some tough times, in between the Belgian government dissolving (before taking over the six-month rotating presidency of EU), the British foreign policy chief of the EU 'quitting' and the Greek financial crisis (forcing the EU into financial solidarity). Across the playground, their Portuguese, Irish, Italian and Spanish neighbours (making up the so-called PIIGS) finger the same troubles. Whilst 27-year-old Swiss MP Lukas Reimann sounds out his euroscepticism, we jump on the bandwagon to cite those famous sentences of 9 May 1950: 'Europe will not be made all at once or according to a single plan. It will be built through concrete achievements which first create a de facto solidarity'. Word, Schumi
Europe apprehensive about Athens
Ahead of the 11 February summit meeting on Greece in Brussels, several EU members are apparently willing to provide aid to the crisis-riden state. The German, Bulgarian, Belgian and Czech press fear a devaluation of the euro and say any measures to help the country should be attached to strict requirements
euro, currency, greece, piigs, eurozone, press review, euweek
Happy fourth birthday to central and eastern Europe
It has been four years since the European Union opened its door wide open and welcomed ten member states. It's not been a 100% success story for every member though
euro, past enlargements, anniversary, hungary, enlargement, budapest, nabucco
Liechtenstein: a paradise’s light is dimming
Liechtenstein, the geographical heart of the EU, has 35,000 inhabitants, 70,000 foundations and 110,000 million euros deposited in bank accounts whose owners are anonymous. All this leaves a bad taste in the European mouth
euro, switzerland, peer steinbrück, liechtenstein, united states, cyprus, malta
Tax havens: what is the best policy?
Exploited by multinational companies to increase profits or by the very rich to pay less tax: tax havens represent the slightly shady side of international finance. How to eliminate them?
Prices are rising: blame the euro?
Deep at the heart of the political debate the euro is often held responsible. Life is more expensive, but whose fault is it?
euro, germany, european central bank, france, european union, western eu, economy
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