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Recipe for a desaster

The European Union has set up a new instrument in order to put more pressure on Greece: the phone conference call. The so-called troika (EU, ECB, IMF) used this brand new tool several times last week. And it worked: The government in Athens agreed to a new series of budget cuts, promising to sack some […]

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Merkel puts the Euro at risk

Last week, Germany proved to be the greatest threat to the stability of the Euro zone, together with Greece. The German press is suggesting that this is mainly due to the liberal party leader Rösler, who is loosely talking about an „orderly“ bankruptcy in Greece. But the main responsibility lies with Chancellor Merkel and her finance […]

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