Sunday, 18 September 2011

End of eurozone or beginning of democracy?

Our knowledgeable guides take us on a tour of the hospice of the eurozone.


There is not a minute to spare, if we want to avoid a disaster worse than the Lehman collapse, says Europe-27etc: Madame la Chancelière, Monsieur le Président, n'ayez pas peur !

Chancellor Merkel, president Sarkozy and the rest of the leaders need to give the common euro currency the common government it needs:

C’est donc une question de gouvernement : parce qu’elle a une monnaie unique, la zone euro doit se donner un gouvernement fédéral.

Credibility requires a real representative democracy at federal level:

Seule l’alternance dans un cadre constitutionnel fédéral peut guérir nos maux, rendre à la démocratie représentative ses lettres de noblesse, offrir aux Européens, dans l’unité, le choix entre des politiques immobilistes et des politiques innovatrices, efficaces et donc crédibles aux yeux du monde entier.

Liana Giorgi

Running around like Headless Chickens, is the blog post where Liana Giorgi describes the German enterprise minister Philipp Rösler's (FDP) anti-European, anti-democratic and anti-federalism op-ed as unintelligent and populist. Something different is needed:

Coming up and diffusing negative sound bites is easier than relying upon and diffusing expert knowledge—but this is no excuse for giving into the former temptation.

FT nightmare scenario

The Financial Times earnestly discusses the nightmare scenario for the eurozone.

Business Insider and VoA on Greece

Something went wrong. After Geithner Strikes Out In Poland, Papandreou Cancels U.S. Trip And Hurries To Greece, says Business Insider.

At least this remains suspended. Voice of America tells us that EU Finance Ministers Delay Aid Decision.

Summing up

This how the Voice of America summed up two days of ministerial meetings in Wroclaw, Poland: EU Finance Ministers Fail to Agree on New Debt Measures.

The British chancellor George Osborne offered some advice from the outside of the eurozone:

I think everyone here understands the severity of the situation... People know that time is running out. The eurozone needs to know it needs a grip on the situation.

Ralf Grahn