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Financial Times (November 7)

2014/ 11/ 07 by jd in Global News

Germany needs to take a more “active role in a disordered world,” and this means articulating their foreign policy. “Ms Merkel has built her political career on caution–on taking the temperature and weighing all the options before acting…. But leadership in foreign policy demands something more: an understanding that doing nothing can be more dangerous than doing something, and a readiness to step out in front of the crowd. Consensus may be comforting; it does not impress the likes of Mr Putin.”

 

Investment Week (January 8)

2013/ 01/ 10 by jd in Global News

Is the Euro crisis over? The answer depends on who’s speaking. In Lisbon, José Manuel Barroso, the president of the European Commission, declared the crisis was over. But “Barroso’s comments were in stark contrast to those given by German chancellor Angela Merkel, who said in her New Year’s address that the euro crisis, though improving, was ‘far from over.’”

 

The Economist (October 13)

2012/ 10/ 15 by jd in Global News

“The decision made on October 10th by Britain’s BAE Systems, the world’s third-biggest defence firm, and EADS, the Franco-German owner of Airbus, to call off their proposed €38 billion ($50 billion) merger is a bitter blow both to the two companies and to hopes for the emergence of a more integrated European defence and aerospace industry.” Ultimately, it was Angela Merkel who blocked the deal and this was unfortunate. “Germany was wrong to stand in the way of a more integrated European defence and aerospace industry.”

 

New York Times (June 19)

2012/ 06/ 21 by jd in Global News

Finally, the “leaders of the Group of 20 top economies managed to say some of the right things…. The question now is whether these words will ever translate into effective action. If the past two years of the euro crisis is any guide, the likely answer is no.” The Times places much of the blame with Germany’s Chancellor Angela Merkel for a “relentless insistence on self-defeating austerity and piecemeal rescue plans.”

Finally, the “leaders of the Group of 20 top economies managed to say some of the right things…. The question now is whether these words will ever translate into effective action. If the past two years of the euro crisis is any guide, the likely answer is no.” The Times places much of the blame with Germany’s Chancellor Angela Merkel for a “relentless insistence on self-defeating austerity and piecemeal rescue plans.”

 

The Guardian (May 14)

2012/ 05/ 17 by jd in Global News

“Europe’s ruling elite is now openly talking about whether Greece might leave the euro, breaking a two and a half year taboo. German chancellor Angela Merkel and EU president José Manuel Barroso were among those saying that if Athens could not abide by the rules, Greece would have to leave.” But of what would ensue, no one is sure. It could lead to “collapsing banks, soaring inflation, but possible salvation.”

“Europe’s ruling elite is now openly talking about whether Greece might leave the euro, breaking a two and a half year taboo. German chancellor Angela Merkel and EU president José Manuel Barroso were among those saying that if Athens could not abide by the rules, Greece would have to leave.” But of what would ensue, no one is sure. It could lead to “collapsing banks, soaring inflation, but possible salvation.”

 

Wall Street Journal (March 28)Wall Street Journal (March 28)

2012/ 03/ 29 by jd in Global News

“Squabbling over the difference between €500 billion and €740 billion looks a lot like deck-chair management.” How big should the European Stability Mechanism (ESM) be? Angela Merkel now supports expanding the bailout fund to €700 billion from €500 billion. The European Commission seeks even more. “Even if the ESM had the €940 billion that the Commission wants, the fund still won’t likely be big enough to save Spain and Italy if they end up asking for rescue. The financing needs of Madrid and Rome alone are likely to top €1.2 trillion over the next two years.” “Squabbling over the difference between €500 billion and €740 billion looks a lot like deck-chair management.” How big should the European Stability Mechanism (ESM) be? The current €500 billion appears insufficient. Angela Merkel now supports expanding the bailout fund to €700 billion from €500 billion. The European Commission seeks even more. “Even if the ESM had the €940 billion that the Commission wants, the fund still won’t likely be big enough to save Spain and Italy if they end up asking for rescue. The financing needs of Madrid and Rome alone are likely to top €1.2 trillion over the next two years.”

 

Euromoney (March Issue)

2012/ 03/ 20 by jd in Global News

“Merkel and Sarkozy should stop wasting time with summits and start running seminars on how to use a washing machine.” The spreads on 5-year credit-default swaps (CDS) show an uncanny link with the percentage of men age 25 to 34 still living at home. In Greece nearly 60% do, followed by Portugal, Italy Spain, and Ireland.

“Merkel and Sarkozy should stop wasting time with summits and start running seminars on how to use a washing machine.” The spreads on 5-year credit-default swaps (CDS) show an uncanny link with the percentage of men age 25 to 34 still living at home. In Greece nearly 60% do, followed by Portugal, Italy Spain, and Ireland.

 

New York Times (December 6)

2011/ 12/ 07 by jd in Global News

The latest Merkozy solution demanding Euro nations work to balance budgets or face sanctions is “the wrong fix…. The Franco-German recipe will exacerbate Europe’s fundamental problem: lack of growth.”

 

New York Times (November 16)

2011/ 11/ 17 by jd in Global News

In Europe, “there is very little time left to avoid financial catastrophe.” Much of Europe’s fate now lies in the hands of Germany’s Chancellor Angela Merkel. Unfortunately, she has been following, rather than leading. “She needs to challenge her voters’ simplistic stereotypes of southern European sloth and tell them the truth: The real threat to Germany isn’t inflation; it is an economic collapse across Europe.”

 

The Economist (August 20)

2011/ 08/ 22 by jd in Global News

Europe’s leaders and, in particular, Angela Merkel correctly sense the lack of domestic support needed to fix the euro zone crisis. What they overlook is the need to cultivate this support. Half-measures will not work and a euro zone collapse would be damaging. “The current rescue plan for the euro is just not working. The markets continue to price in default…. A year ago it was said that the euro zone could take care of two or three small countries but that Spain was too big to fail. Today, with Italy and even France looming into the picture, the very survival of the euro is coming into question.”

 

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