On the 70th anniversary of Hess’s flight to Britain this past May big questions remain about the message he was conveying to the British government. Much of the flap is about a document in the Soviet Archives. It concerns a… Continue Reading →

Wolfgang Schauble and Venezelos both attended a meeting of the IMF in Washington, D.C. Wolfgang warned that Greece needed to take decisive steps. If they don’t, the second Greek bailout might not be manageable. Greece might not be able to… Continue Reading →

In his speech to the German Parliament in Berlin the Pope claimed that the Nazis took Gernany to “the edge of the abyss”. He used Nazi Germany as an example of “power divorced from right”. He said it was when… Continue Reading →

Pope Benedict XVI is arriving in Germany today for a whirlwind tour of Berlin, Erfurt, and Freiberg. For his speech in Berlin’s old Olympic stadium, seating 70,000, the tickets are sold out. He plans to hold services at the fairgrounds… Continue Reading →

When the U.S. debt was downgraded it didn’t create a ripple. Investors flocked to treasury bonds and the yields fell to record lows. But when Italy’s debt was downgraded to A by S&P, Berlusconi lashed out at them. Their yield… Continue Reading →

Germans put Germany first. 76% of them are opposed to expanding the EU bailout fund because Germany would have to pay the largest share. So ingrained is this thinking that Philip Rosler, the deputy chancellor and head of the FDP,… Continue Reading →

Greece held an emergency cabinet meeting on Sunday to plannew cuts and measures. Evangelos Venizelos said he would pass more budget cuts to satisfy the Troika. But he acted like a typical Greek and proclaimed that Greece was being “threatened… Continue Reading →

Elections in Berlin today are supposed to garner a 20% vote for the Green Party. It’s growing so popular in Germany that in 2013 the Greens and the Social Democrats hope to oust Merkel and the Conservatives. Merkel herself even… Continue Reading →

The U.S. Treasury Secretary has castigated the Europeans at a conference in Wroclaw, Poland. He says they ought to get it together and increase the size of their bailout fund. Otherwise it can’t handle the job of bailing out Greece… Continue Reading →

Supposedly this week for the first time ever European heads of state and officials are considering issuing Euro Bonds. They’re promoting it as a way to lower borrowing costs for most of the members of the EU. But it will… Continue Reading →