Monday, August 29, 2011

Germany's gambit

AEP presenting the issues (granted, from his perma-EUskeptic position) facing Europe's lynchpin.

Full article here.

Mrs Merkel has cancelled a high-profile trip to Russia on September 7,
the crucial day when the package goes to the Bundestag and the
country's constitutional court rules on the legality of the EU's
bail-out machinery.

If the court rules that the €440bn rescue fund (EFSF) breaches Treaty
law or undermines German fiscal sovereignty, it risks setting off an
instant brushfire across monetary union.
The seething discontent in Germany over Europe's debt crisis has
spread to all the key institutions of the state. "Hysteria is sweeping
Germany " said Klaus Regling, the EFSF's director.

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