Michael Berendt's blog

Archives for Economy & Euro

It’s curious how centre-right governments have come to dominate the political scene as Europe faces its biggest economic crisis for a generation. Given the fierce pressures on public spending, the battle by public sector workers to protect their jobs and pensions, whittling down of welfare programmes and high levels of unemployment, especially among young people,… » read more

Posted by Michael Berendt

Since the eurozone crisis first erupted three years ago it has largely been seen as Europe’s problem. It has now become a global emergency. This crisis is “scaring the world” says President Obama, whose Treasury Secretary Timothy Geithner visited Europe twice in a week to meet European finance ministers and who has demanded speedy action… » read more

Posted by Michael Berendt

People may have questioned Chancellor Angela Merkel’s commitment to the European Union over recent years, but there is no denying the pivotal role which she is playing in defence of the euro. What a desperate battle she has to fight! The trouble is that her own battalions are deeply sceptical of her campaign. The misgivings… » read more

Posted by Michael Berendt

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