The idea of an EU rescue fund was apparently first proposed by the Netherlands and supported initially by France. Germany, however, quickly voiced its disapproval and on Thursday, French President Nicolas Sarkozy pulled the plug. "I deny the sum and the principle (of the proposed rescue scheme)," he said. Full Story »
Posted by Peter Barnett
Germany is considered to be the strongest EU and most stable EU economy. Spiegel on line presents a balanced and accurate analysis
If Germany is not prepared to support a unified EU 'bale out fund' then any prospect of such a fund is dead.
European Affairs Minister Jean-Pierre Jouyet told Les Echo financial that Europe now has a platform to argue for state regulation of the economy instead of the free market ... More »
This is a most interesting story from the German perspective about eh golbasl credit crisis. The inability of the EU members to address teh issue at that level appears to show that nationaism is stronger than common interest.
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