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Maastricht Treaty

Europe Is Strangled By Its 3 Percent Budget Deficit Ceiling

Georges Ugeux | Posted 06.30.2013 | Business
Georges Ugeux

By fixing annual budget deficits, Europe is shooting itself in the foot: while it does, of course, authorize lower budget deficits during good years, it makes it impossible to allow further budgetary deficits when the economy is in recession. Europe is in recession.

Theory and Reality in Europe

David Backus | Posted 01.29.2013 | World
David Backus

David Cameron suggested the European Union headquarters in Brussels "continues to exist as if in a parallel universe," in part because its idea of austerity is to increase the workweek from 37.5 hours to 40. How can we possibly make sense of all this?

The Euro Exit

Tom Cooley | Posted 08.14.2012 | World
Tom Cooley

EMU leaders are running out of time in their efforts to save the euro. Only decisive action can work -- and there still would be no guarantee of success. In the United States, it took a Civil War to settle that monetary union once and for all.

Which Way for Europe?

Robert Kuttner | Posted 05.20.2012 | World
Robert Kuttner

While Greece is right on the razor's edge of default, and may yet be granted some overdue relief, the prospects for broader European recovery are still very bleak until the politics get a lot more radical.

Maastricht Lite

Michael Pento | Posted 02.13.2012 | Business
Michael Pento

The European Summit meeting held last week proposed a blueprint for member nations to curb deficits and to bolster the bailout fund. In other words, this time is different.

Simon Johnson: Europe Needs Trichet’s Unified Finance Ministry

Bloomberg | Simon Johnson | Posted 08.07.2011 | Business

Jean-Claude Trichet, president of the European Central Bank until October, last week floated two proposals aimed at dealing with Greece and related eu...

The Euro will Neither Collapse nor Disappear

Georges Ugeux | Posted 05.25.2011 | Business
Georges Ugeux

The current crisis should further strengthen the Euro, and since the dollar is on a sliding slope, its value should improve seriously in the coming months.

Does Greece Have a Tea Party?

Ann Pettifor | Posted 05.25.2011 | Business
Ann Pettifor

While there have been protests and riots, it is not clear that Greece has the equivalent of a Boston Tea Party. Or, like Bostonians, that Greeks will join with others to fight for independence.

Greece Evidences the Weaknesses of the Euro

Georges Ugeux | Posted 05.25.2011 | World
Georges Ugeux

Greece is, once again, on the verge of bankruptcy and, once again, is asking its European partners for help.