In These New Times

A new paradigm for a post-imperial world

The pitfalls of the Merkozy fiscal pact

Posted by seumasach on December 16, 2011

Spiegel

16th December, 2011

The new fiscal compact that was agreed to at last week’s EU summit is supposed to help Europe out of the debt crisis. But it represents a briar patch of thorny legal and political questions. Until now, Chancellor Merkel’s government has adopted a take-it-or-leave-it approach with its euro rescue efforts. With the new pact, that is likely to change.

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