Tomorrow is supposed to be the date for the summit of European leaders. Everyone expects an announcement about what they are going to do to solve the debt crisis. But the nearer the date approaches, the more disagreement there seems… Continue Reading →

All along the Germans have been saying that the investors in Greek bonds should have to accept a haircut. Now they’re getting their way. The only question that remains is how much of a haircut? The French say 40%. The… Continue Reading →

The Germans won’t just print money. They won’t let the ECB get away with doing it either. That is what the Fed would do. That’s what the Fed wants Germany to do. But Germans have their own ideas about such… Continue Reading →

Dealing with the credit crunch in Europe is a perfect illustration of the conflict between Anglo-Americans approaches to a solution and the ones the Germans insist upon. The United States criticizes Angela Merkel for not going far enough. They want… Continue Reading →

After weeks of negotiations, Germany and France made an announcement today that they will not be meeting on Sunday. They will not be coming up with the planned solution to the Greek debt crisis. The reason? They cannot agree of… Continue Reading →

The Americans say go for it. So do the English. They want Germany to take on Europe and be responsible for all its bond issues. They want the Germans to forget about ever being German and to think like an… Continue Reading →

Journalists pretend that Merkel and Sarkozy must decide what to do about the EU debt crisis. But really, though Sarkozy is flying to Berlin today, it’s up to Angela Merkel and the Germans. Germany is the largest economy in Europe,… Continue Reading →

A Merkel representative said that a package of measures would be presented on Sunday but cautioned that “The Chancellor reminds everyone that the dreams that are emerging again, the on Monday everything will be resolved and everything will be over,… Continue Reading →

Top European official claimed that they would unveil a rescue plan by October 23, the date of the scheduled summit meeting of European leaders. They claimed they would prevent what was happening to Greece from happening to Italy. It would… Continue Reading →

The Germans and French say they are close to announcing a deal. There are three main components to it as described during the meeting of finance ministers for the group of 20. They all met in Paris on Friday. The… Continue Reading →