Posts Tagged ‘60 Minutes’

Notes From Underground: While Europe Slept…

December 19, 2010

This weekend the European Union, again, failed to do anything to alleviate the PIIGS’ problems. Eurocrats continue to put Band-Aids on the problems of potential insolvency of the weakest sovereigns. Even though the official communique left more questions than it answered for investors and European citizens, there were two solid pieces about the why and how of some type of real bailout program. Nouriel Roubini had an insightful piece on Slate, but while economically sound it fails to deal with the political machinations that are in play in Europe. Adding to Merkel’s problems is the fact that her coalition lost a vote in Parliament on an education issue. While it’s not a serious affront to the chancellor’s coalition, it does reflect the serious political winds that are blowing and gathering force in Germany.