FEPS Fresh Thinking

How long will Germans be made guilty in a Platonian cave haunted by shadows of the past? In the last couple of weeks all over Europe a sentiment of Germanophopia appeared and this even amongst political friends. Comments like “If the Euro fails, the EU will disintegrate. And you, our German friends, will miss the… » read more

Posted by Ernst Stetter

Those who have seen the recent movie Contagion are aware how terrible this is when necessary precautions have not been taken in time. Let us be clear, the “crisis-beast”, or the financial markets have already been very successful in their contagion strategy. We have seen last week that two democratically elected Euro-zone governments, Greece and… » read more

Posted by Ernst Stetter

Yesterday the President of the European Council announced the postponement of the long overdue Eurozone summit which was due to take place next week. I am wondering if the Belgian Council President is now using Belgian practices of non-decision making and postponing. We all know that Belgium is now more than 16 months – since… » read more

Posted by Ernst Stetter

9/11 changed the world. This is what most of the comments made this week-end stipulate. The world seems to have shrunk in many ways in the last decade. It goes without saying that we still suffer the consequences: thousands of innocent people killed at 9/11, the wars in Iraq, in Afghanistan, the wave of violence… » read more

Posted by Ernst Stetter

The current crisis almost brought us to a dead end – certainly more evident in the US and Europe than perhaps in the other continents. But nevertheless the situation is frightening. Europe seems to be crumbling; the sovereign debt crisis threatened the whole European project. In Spain, in Britain and elsewhere the youth no longer… » read more

Posted by Ernst Stetter

Newspapers all over Europe, political observers and politicians are gloomy of late. For example Le Monde’s headline tells us that Greece has another 10 days to avoid the worst. The Financial Times published in a post by Gideon Rachman that a political union cannot fix the Euro! Frankfurter Allgemeine Zeitung argues that the German taxpayer… » read more

Posted by Ernst Stetter

Even before the next hearing on Friday this week, the allegations against the head of the IMF are obviously challenging for the future of the IMF and, in the international press, discussion continues over possible successors of Dominique Strauss-Kahn. However, we should be aware that the question of the successor would have been in any… » read more

Posted by Ernst Stetter

Portugal negotiated without much noise its bail-out deal with the EU and the IMF. Portugal will receive €78 billion in loans, including up to €12 billion for the banking sector. The loans will span until 2013, after which Portugal is expected return to the markets to finance it. The interest rate Portugal will pay on… » read more

Posted by Ernst Stetter