2012-06-06 — telegraph.co.uk
Germany has not moved one inch towards fiscal union of any kind. It may do so (I make no prediction). It has not done so yet. Europe faces exactly the same problem it has had since the start of the crisis.
There is no breakthrough on the Spanish banking crisis. Quite why the Madrid and Milan bourses have been rallying is beyond me.
Germany has agreed to explore extra supervisory powers for a European banking authority, in the "medium-term" once umpteen other conditions have been fulfilled.
This has no relevance to today's crisis.
source article |
permalink |
discuss |
subscribe by:
|
RSS |
email 
Comments: Be the first to add a comment
add a comment | go to forum thread
Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately.
