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A game-changer: that’s how Christine Lagarde, new boss of the IMF, described last week’s eurozone crisis summit, which agreed revised bail-out terms for Greece and far-reaching new capabilities for EU financial institutions, virtually creating a European Monetary Fund. There is no doubt that the decisions taken in Brussels on July 23 2011 opened a new… » read more

Posted by Michael Berendt

Europe is blind to its longer-term interests in defence and foreign affairs, claim two speeches in London this week. Former NATO Secretary General George Robertson and Douglas Alexander, foreign affairs spokesman for the British Labour Party, both castigate the failure of European policy-makers to look ahead and prepare for impending dangers. US Defense Secretary Robert… » read more

Posted by Michael Berendt