Jeff Cimbalo

Entries by Jeff Cimbalo

The EU's New Budget Motto: "Mother May I?"

(1) Comments | Posted December 8, 2011 | 11:20 AM

European Council President Herman Van Rompuy has just floated a proposal to subject all Union members -- not just eurozone members -- to more rigorous budget scrutiny by Union organs. The move is so contrary to the Union treaties and its scope so overreaching to the current eurozone debt crisis...

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One Continent, Under France and Germany

(0) Comments | Posted December 7, 2011 | 1:01 PM

Looks like the EU has found an alternative to German domination of everybody else. It's the French-German domination of everybody else.

The grand "deal" announced earlier this week has something for both France and Germany. For the Germans, France will temporarily stop talking about eurobonds and will agree...

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Democracy Not in Store for Eurozone Members

(12) Comments | Posted December 1, 2011 | 8:05 AM

The past two weeks have seen a dizzying array of proposals from virtually every organ of the EU claiming that they can make the eurozone more efficient, durable, and solvent. If you noticed that no one is saying that they will make the eurozone more democratic, you're not...

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The Latest Plan to Control Euro Members

(4) Comments | Posted November 24, 2011 | 7:52 AM

What's the newest strategy of the European Commission to remove any democratic accountability from the eurozone members? They are now aiming to consolidate all eurozone members on the IMF Executive Board into a single member, represented by... the European Commission.

The move would make the Commission less reliant...

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An Open Eurozone Is a Weakened Eurozone

(0) Comments | Posted November 16, 2011 | 11:39 AM

The Merkel-Sarkozy euro strategy is taking shape, and will very likely include an attempt at treaty change regarding euro (but not EU) exit for existing eurozone members, and deeper integration of the eurozone. That additional treaty powers will be sought at the Brussels summit on Dec. 9 is...

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Merkel's Plan to End the Euro

(3) Comments | Posted November 14, 2011 | 1:51 PM

Whatever political settlement the Lisbon Treaty created to allow for the permanence of the euro is about to change. Chancellor Merkel will propose a significant change in the existing treaties, which will finally allow Greece and perhaps others to leave the euro but not the EU, and likely...

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The Euro May Die So Europe Can Live

(1) Comments | Posted November 10, 2011 | 1:18 PM

A few hours after the prediction on this blog of a multi-track euro, the Germans and French went public with their desire to oust certain countries from the euro and build a new eurozone with much deeper policy integration and a much more selective membership. Such...

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Save the Euro, Lose Sovereignity

(5) Comments | Posted November 9, 2011 | 3:57 PM

The race to save the euro, and how it's being conducted, will not just affect bailed out countries' control over their budgets. It will also likely harm what remaining democratic character the Union has by allowing for influence over debtor states' votes in a way the treaties anticipate and forbid.

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Europe's Greatest Deficit Is its Democracy

(2) Comments | Posted November 8, 2011 | 8:14 AM

Though his actions quickly descended into farce, soon-to-be-former Greek Prime Minister Papandreou had the right instinct calling for a referendum on the austerity package that European negotiators are imposing on his country. There has been a long-stranding "democratic deficit" within the European Union, with major decisions being made without the...

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The G20 Summit's Abject Failure

(11) Comments | Posted November 5, 2011 | 8:50 AM

The G20 summit failed utterly to secure any resolution of the eurozone's economic crisis.

Yet two decisions were taken that may at some future point contribute to a solution:

First, the G20 agreed to continue to consider increased involvement of the International Monetary Fund to stem the crisis. In...

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China's Pound of Euro-Flesh

(0) Comments | Posted November 3, 2011 | 10:55 AM

As the euro bailout proceeds, there are almost daily references to some foreign country that is being lobbied to 'contribute' to an aspect of the fund. China and Japan are the most commonly mentioned potential suitors for guaranteeing or buying new Eurobonds. The details are sketchy as to the extent...

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