EURO CRISIS

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Eurozone Gets New Bailout Fund

A new permanent bailout fund for the eurozone will come in to force later Monday at a meeting of eurozone finance ministers in Luxembourg. The European Stability Mechanism (ESM) is designed to suppor...
AP

What Friends Are For?

German Chancellor Angela Merkel's visit with Prime Minister Stephen Harper has reignited the issue of Canada's refusal to contribute money to a bailout fund through the International Monetary Fund to...
AP

Spain, Ireland, Italy and Greece: Which One Doesn't Belong?

If no longer -- thank goodness -- the geo-political cockpit of Europe (caught between rival ideologies in the civil war era), Spain cannot be dismissed as a periphery or marginal country out of step with the European project. Spain has all the features of a highly efficient and accountable country, from its ability to produce majority governments from both the respectable left and right, its elaborate system of federalism, and its increased multicultural identity.
Alamy

What Italy's Victory Over Germany Really Means

The irony of Germany's loss to Italy in the Euro 2012 cup will not be lost on those who have been watching the Eurozone financial crisis play out in recent weeks. Germany's Chancellor Angela Merkel has been steadfast in her opposition to a plan for a common debt issuance program (so-called "euro bonds"), while her electorate have turned up their collective noses to calls for additional handouts to the problem centres like Greece.
Alamy

Of All the Languages in the EU, Nigel Farage Speaks That of Reason

A couple of days ago, a friend sent me a video of Nigel Farage speaking at the European Parliament. I hit "play" expecting the general "as polls show..." but before Farage was half-way through his speech, my sides were splitting. It was the greatest and most eloquent utterance on the topic of the EU I have heard from any British public figure since Sir Jimmy Goldsmith spoke at a conference in 1996.