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Euro Crisis

European Union (EU)

Photograph by Yagi Studio/Getty Images

Photograph by Yagi Studio/Getty Images

Lip Service From the ECB

The European Central Bank has gotten itself so gnarled and twisty-tied over the communication of its new “forward guidance” policy that it evidently felt inspired to give lessons in the art of communicating. In a paper titled “Loose Lips Sinking...

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Photograph by Maarten Wouters/Getty Images

Photograph by Maarten Wouters/Getty Images

Contracts, Schmontracts

So much for the “binding” economic-reform contracts once championed by Angela Merkel. The German chancellor’s game-changing idea, back in 2012, was for European governments to make contractual, legally enforceable pledges to fix things like their labor markets or social security...

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Photograph by Ryan Goebel/Getty Images

Photograph by Ryan Goebel/Getty Images

Schaeuble’s Fire-and-Brimstone Message Sets Electoral Tone

The words “grave economic catastrophe” aren’t commonly among the crafted Swabian pronouncements of German Finance Minister Wolfgang Schaeuble when he discusses the European debt crisis. But they did emerge Tuesday evening in Berlin as he fielded questions from Christian Democratic...

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Photograph by Antoine Antoniol/Getty Images

Photograph by Antoine Antoniol/Getty Images

Hollande: Give Me Governance, Not GovernFrance

French President Francois Hollande wants “stronger governance” and “strengthened economic policy coordination” in the euro zone — as long as France isn’t governed or coordinated by it. France’s embattled leader performed this logical backflip last night after putting out a...

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Photograph by Adam Berry/Bloomberg

Photograph by Adam Berry/Bloomberg

A Trillion Tax Euros Fall Between the Cracks

What was Europe’s debt problem is starting to look like Europe’s taxation problem. Words emerging from a one-day European Union summit in Brussels show EU leaders aren’t focused just on spending and deficits: they announced an investigation into “aggressive” use...

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Photograph by Sean Gallup/Getty Images

Photograph by Sean Gallup/Getty Images

Merkel Reigns on Cyprus — Not

Yesterday was the big German parliamentary decision on aid for Cyprus, and the burning question was whether Chancellor Angela Merkel would hold her coalition together or, as in past Bundestag crisis-management moments, rely on opposition votes to pass the package....

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Photograph by Christophe Simon/AFP via Getty Images

Photograph by Christophe Simon/AFP via Getty Images

Brussels and Mrs. Thatcher

Margaret Thatcher spoke about Europe mainly in terms of what she didn’t want: neither a “narrow-minded, inward-looking club” that is “ossified by endless regulation,” nor “an institutional device to be constantly modified according to the dictates of some abstract intellectual...

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