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What's Germany Thinking?

A friend involved in the Euro crisis writes this about the most recent German actions to rescue the Euro: This is a selfless act on Germany's part actually. A reversion to the drachma would lead to a massive devaluation & hurt the competitiveness of German exports (and it's tourism sector - …

Written by David Frum on Wednesday November 16, 2011

Greek Referendum Tempts Economic Disaster

It’s understandable why Greek Prime Minister George Papandreou wants to hold a referendum before implementing draconian financial restraints that will cause riots, clashes with police, car burnings, acts of vandalism, and anarchy. He knows what has to be done, but undoubtedly supposes that …

Written by Peter Worthington on Thursday November 3, 2011

It's Germany's Mess as Much as Greece's

In my column for The Week I argue that Germany bears a lot of responsibility for creating the current European debt crisis: The other day, a financial friend repeated a joke. "A Greek, an Italian, a Spaniard, and a German walk into a bar. Who pays? The German of course …" Bzzzt. Let's …

Written by David Frum on Wednesday November 2, 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 …

Written by David Frum on Thursday October 27, 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, …

Written by Jeff Cimbalo on Tuesday October 25, 2011

Will America Pay for Europe's Bailout?

In my column for CNN, I discuss what sort of bailout Europe will need when it finally confronts the full scale of its debt crisis: It's been obvious for some time now what has to be done to avert the bank run: a European Super TARP, a version of the Troubled Asset Relief Program that was used …

Written by David Frum on Monday October 3, 2011

The EU's Big Fat Greek Mess

Herman van Rompuy is neither a "poet lost in politics," nor “charismatic,” but rather a timid church mouse - precisely the sort of leader that a lowest common denominator institution like the EU requires. This reputation has dogged Von Rompuy ever since his contested appointment as President of the …

Written by Robin Tim Weis on Friday September 30, 2011

Greece Defies Reform

Back in May of 2010 it became clear that Greece could no longer finance her debt and her budget deficit through the markets. Since then the nations of the European Union (and the IMF) have covered the borrowing needs of Greece with new loans. This helping hand was conditional, the Greek …

Written by Napoleon Linardatos on Tuesday September 20, 2011

Let's Call it Hurricane Euro

In my Marketplace column , I ask why no one is preparing for the coming collapse of the Euro: But why is it only weather stories that command such breathless attention? Meanwhile, the world's largest currency union -- the euro -- continues to careen toward disaster. The euro's travails …

Written by David Frum on Thursday September 1, 2011

Greece's Tough Deal

A friend's weekend quip: "Anne Mansouret described her sexual affair with ex IMF chief Dominique Strauss-Kahn as 'consensual but brutal.' That's also a good description of Greece's deal with its bondholders and other EU countries."

Written by David Frum on Monday July 25, 2011

Gaza Flotilla Faces New Setbacks

Looks like that one forlorn Gaza-bound flotilla boat from Piraeus is also in trouble with Greek law enforcement. And the Russian boat at the next dock is making a lot of noise! Looks like that one forlorn Gaza-bound flotilla boat from Piraeus is also in trouble with Greek law enforcement. And the …

Written by David Frum on Tuesday July 12, 2011

Turning A Crisis Into A Greek Tragedy

The political management of the Greek financial crisis is akin to the generalship exhibited in World War One and could have similar catastrophic consequences for Europe. Looking back at historic events, say the protracted tragedy of World War One, one is frequently puzzled by the inability of the …

Written by Napoleon Linardatos on Monday June 27, 2011

Europe's Newest Budget Bust

Following the collapse of its government Wednesday, Portugal seems almost certain to become the third EU country to accept an EU-financed bailout. Following the collapse of its government Wednesday and its parliament’s refusal to accept a budget, Portugal seems almost certain to become the third …

Written by Eli Lehrer on Friday March 25, 2011

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