-
The euro: more summits, more problems
Europe's policymakers are more interested in bailing out bankers than the real economy. Not for the first time, the eurozone is set to make a huge mistake. Actually, make that two: one political, the other economic. At its summit today European leaders will discuss proposals to force heavily indebted countries to gain EU agreement for their national budgets. More than that, it is understood that Germany is pushing for the eurozone equivalent of a modern-day viceroy to be installed in Athens to oversee any big spending by the Greek government. That last proposal was leaked to the Financial Times rather than announced ... (full story)