BERLIN – Just weeks ago, the worst of the financial crisis in Europe seemed to be over. Stability seemed to be returning. But appearances pr…
MUNICH – Last summer, the financier George Soros urged Germany to agree to the establishment of the European Stability Mechanism, calling on…
BRUSSELS – It is an old and never-ending contest. On one side are the moral-hazard scolds, claiming that one of the major responsibilities c…
BRUSSELS – Europe is on the verge of making a historic mistake, one that would compound the growing sense of European decay and collapse. Th…
PRINCETON – Europe can choose its own musical accompaniment to its latest crisis. In Berlin, 50 Cent’s “All Things Fall Apart” has just had …
MADRID – Once again, Europe has peered into the abyss. But the tentative agreement between Cyprus and the troika (the European Commission, t…
PRINCETON – The task was never going to be an easy one: impose losses worth about €5.8 billion ($7.5 billion) on lenders to the Cypriot gove…
MILAN – Last summer, after two years of growing uncertainty, systemic risk in the eurozone finally began to wane, as conditional commitments…
SOFIA – The logic behind the European Union’s drive to constitutionalize budget constraints and remove key economic decisions from electoral…
NEW YORK – When too many Italians voted late last month for either a louche and discredited business tycoon or a comedian, European stock ma…