Faisal Islam
Endgame II: Europe’s Faustian pact
Greece has voted in favour of the EU/IMF austerity package. But why is Germany pushing stability throughout Europe – and what is it hoping to achieve?
-
-
Faisal Islam
Euro collapse contingencies at Davos
Are banks treating euros differently, depending on which country they come from? Faisal Islam blogs from Davos.
-
Faisal Islam
A French downgrade is bad for Sarkozy and Germany
If rumours of a potential downgrade of France’s AAA credit rating are true, it is of huge significance to the eurozone’s fitful efforts at a long-lasting rescue, writes Economics Editor Faisal Islam.
-
Gary Gibbon
Cameron must manage eurosceptic expectations
David Cameron should enjoy his moment of acclamation from his backbenchers on Monday because it is going to be extremely difficult to give them another such moment for the lifetime of this parliament.
-
Faisal Islam
Ten curiosities about David Cameron’s veto
What did the UK “win” in Brussels that justified deploying the tactical weapon of the veto?
-
Jon Snow
A British veto, but Europe edges towards saving the euro
Cameron’s emphasis on his own veto did not obscure the reality that 17 Euro members, plus some half a dozen aspirant members, have agreed a much tighter fiscal regime, trading significant areas of sovereignty to achieve it.
-
Gary Gibbon
‘Britain faces a moment of truth soon – in or out’ – source
A European Commission source tells Gary Gibbon that it’s time for Britain to make some tough decisions on Europe, decisions “it has dodged for too long”.
-
Faisal Islam
Euro-bazooka disarmed, here comes new Euro-bazooka 2.0
Channel 4 News Economics Editor Faisal Islam says the European Financial Stability Facility bailout fund is being “quietly forgotten” in favour of the European Stability Mechanism.
-
Gary Gibbon
David Cameron’s shopping list for Brussels
Imagine the scene: it is midnight in Brussels on Thursday night. Word reaches Washington that the entire euro deal is hanging in the balance because David Cameron is wielding his veto until he gets some asymmetrical guarantee that protects the City of London. David Cameron could expect a rocket from President Obama that would put the big bazooka to shame.
-
Gary Gibbon
Eurozone: what is Cameron’s next move?
David Cameron is clear that he can’t stand in the way of the 17 Eurozone countries trying to sort themselves out in Brussels on Thursday/Friday. He’s also clear that he can’t come home on Friday with nothing to show for his acquiescence in a treaty change. His backbenchers will be “checking his bags at customs” one senior Tory said. How to square that?
-
Jon Snow
Five days to save the euro
Perhaps the time has indeed come to put to the public Britain’s role in the continent, writes Jon SNow.
-
Faisal Islam
It’s not the end of capitalism at all
There has been over the past three years a tremendous amount of guff written about the financial crisis being the end of capitalism. While I can see the attraction, in communications terms, of indulging the idea that these events form part of an epic transformative narrative, unfortunately it is completely untrue.
-
Faisal Islam
Athens: the lessons of monetary history for Greece
One economist likened the euro to Hotel California “where you can check out but you can’t leave”, pointing out that, “almost no modern fiat currency union has broken up without some form of authoritarian or military government or civil war”.
-
Faisal Islam
Greek bombshell disarms eurozone bazooka
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.
-
Gary Gibbon
It’s fiscal union, Jim, but not as we know it
Is the eurozone heading towards fiscal unity, asks Gary Gibbon. Maybe, but – as Spock might have said – “It’s fiscal union, Jim, but not as we know it.”