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Democratic deficit as eurozone battles Italy’s debt woes
It’s not very democratic, but “pooled sovereignty” is the order of the day as eurozone leaders wrestle to contain the Italian debt crisis. Political editor Gary Gibbon reports.
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Sources in the EU say Germany and France are looking at a smaller eurozone, but economists tell Channel 4 News it will be a “Pandora’s box” and “the message from the Greek myth was do not open it”.
It’s not very democratic, but “pooled sovereignty” is the order of the day as eurozone leaders wrestle to contain the Italian debt crisis. Political editor Gary Gibbon reports.
If the world is reluctant to contribute to the euro bailout to save Greece, how on earth can the Eurozone hope to save Italy? Economics editor Faisal Islam reports.
With Silvio Berlusconi’s future in doubt, Channel 4 News looks at whether Italy is too big to bail out.
Total failure, self-inflicted. The three little pigs need some huff and puff, and they will find more support than you might imagine in Germany.
Does it matter who is PM of Greece? The astonishing example of Greece’s Project Helios shows just how sovereignty transfer works in a crisis.
When your PM comes away from a summit intended to sort out problems talking about “contingency planning” for some kind of Eurozone disaster you get the impression things didn’t go too well. Political editor Gary Gibbon reports from the G20 in Cannes
What of that big new boost to the firepower of the IMF that Britain was pushing for? It looks like The G20 managed to agree that finance ministers would have more meetings to think about it. Political editor Gary Gibbon reports from Cannes.
The G20 leaders plus hangers-on are currently discussing a massive boost to the IMF’s lending resources as a back-stop confidence-building measure for markets nervous about just which economy will come close to default next.
Greece’s Prime Minister Papandreou says he will not go ahead with plans for a referendum on the EU bailout, but calls for unity from opposition parties.
It seems like the EU is saying “you can have your referendum if you must, but do it as quickly as possible (mid December) and we choose the question,” writes Channel 4 News Political Editor Gary Gibbon.
The Greek referendum has sent Greek politics into chaos. But it has also disarmed the euro bailout agreed last week, sending government borrowing costs soaring and share prices crasing across the rest of the eurozone.
Faisal Islam listens in to a revelatory, and genuine (honest) tete-a-tete between the French and Chinese presidents
A deal is reached, but Economics Editor Faisal Islam says the devil will be in the detail. The bailout bazooka will need the goodwill of the rest of the world.
An outline deal to save the eurozone has been agreed – but does it still need China’s input to succeed? Let’s hope not, because a top economist tells Channel 4 News the country may not be interested.