Overview for eurozone

Britain's One-Day Strike

British public-sector workers engaged in a one-day strike today to protest government plans to reduce the generosity of public-sector pensions. I witnessed the big protest march down Whitehall toward Parliament. The crowd was thick, but generally orderly--although past such protests have seen …

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Written by David Frum on Wednesday November 30, 2011

Shrinking the Zone to Save the Euro

The Merkel-Sarkozy strategy for changing which countries are able to use the euro is taking shape. Their next efforts will likely include an attempt to change the treaties that govern how to exit the euro and how the countries more deeply integrate . Additional treaty powers to decide who can …

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Written by Jeff Cimbalo on Wednesday November 16, 2011

Will Britain Pay to Save the Euro?

David Cameron also has a referendum problem. Britain’s current government uneasily combines euro-skeptics and euro-enthusiasts. Two weeks ago, 81 Conservative backbenchers broke with party leaders to vote in favor of a new referendum on Britain’s EU membership. Cameron had promised such a …

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Written by Jeff Cimbalo on Thursday November 3, 2011

Don't Praise the Greek Debt Deal

Whether today’s announcement that holders of Greek sovereign debt have agreed in principle to a 50% haircut on the face value of the instruments raises some critical questions. On the surface, with the notion of first-loss guarantees of new debt taking shape, this addresses the problem of …

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Written by Jeff Cimbalo on Thursday October 27, 2011

Greece: The End of the Beginning

A deal on the Greek debt may or may not be helpful, but it certainly is clarifying. Now we can begin to understand: the Euro crisis is not about Greece, and it's not even really about European government overspending. It's about the negative consequences of building a monetary union without a …

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Written by David Frum on Thursday October 27, 2011

Alan Greenspan: Wrong on the Euro

Former Fed Chairman Alan Greenspan has been reenforcing the conventional wisdom that the current eurozone debt crisis can be traced to a strong> north-south cultural divide

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Written by Jeff Cimbalo on Wednesday October 26, 2011

Save the Euro? Could be Illegal

At some point in this crisis, the eurozone is going to have to decide whether it wants to have a solvent euro for the moment in part of the Union, or a lawful and democratic Union in all of it. The EU is groping for ways to bail out a list of states that includes Greece, Italy, Portugal, …

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Written by Jeff Cimbalo on Tuesday October 25, 2011

Is This What Democracy Looks Like?

Anne Applebaum has just written the best column I've yet seen on the Occupy Wall Street protests. She makes two key points , one chastening to OWS supporters, one to skeptics. Counter supporters, Anne notes: [T]hese international protests do have a few things in common, both with one …

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Written by David Frum on Tuesday October 18, 2011

The Eurozone - Too Big to Save?

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Written by David Frum on Saturday August 27, 2011