After Dubai, now Greece?

By: Wolfgang Münchau

The EU will not come to the rescue unless Papandreou does the opposite of what he promised.

The Stability and Growth Pact

The Stability and Growth Pact (SGP) forms part of the rules and procedures for fiscal policy of the member states of the euro area. The SGP has been subject to criticism long before it was officially agreed at the EU summit in Dublin in 1997 and ever since. The debate about the SGP reflects some of the deep ideological divisions that have accompanied the creation of economic and monetary union. The opponents of the SGP have criticised inter alia that it is pro-cyclical and anti-growth.

The price of the Constitution

There may well be a deal onthe Constitution this week, but the decision to bypass referendums at all costs will be a big political mistake that will reverberate for years to come.

Germany's looming S&L crisis

Sparkassen, Landesbanken, and mutual banks are heading for the rocks. Good riddance!

What is Kurt Beck up to?

Germany's SPD is repositioning itself to the left - ready to pull out of the Grand Coalition when the time is right - sometime in 2008/2009.

Does Sarkozy mean what he says?

I think he does, and this means there is a lot of trouble ahead for the rest of us in Europe.

If I were a G8 demonstrator...

... I would protest in favour of the abolition of the G8 itself, not against what it may - or may not - decide.

Splitting the finance ministry is a bad idea

Sarkozy is implementing his election promises, one by one, and is taking France on a collision course with Europe and the world.