Is Belgium next?

By: Susanne Mundschenk and Raphael Cottin

This is the second Eurointelligence Briefing note, focusing on the economic implications on Belgium's ongoing political crisis.

Total Überfordert

By: Wolfgang Münchau

Europeans political class is completely out of its depth.

A repository of solutions to global problems

For two years now, leading policy makers, academics and businessmen have been meeting for discussions in the Global Economic Symposium to provide concrete solutions for the most pressing global governance issues the world will be facing this century. Here is the result of these discussions: a repository of concrete policy proposals.

An important message to our readers

The eurozone is at a crossroads, and so is Eurointelligence. To ensure our financial future and the quality of our services, we feel it is now time to Eurointelligence on a broader financial footing by asking our readers to contribute directly to the funding.

France and Germany agree: No to E-bonds

Sarkozy follows Merkel in her rejection of European bonds; Mario Draghi says e-bond are not the answer, but also plays down impact and scope of bond purchases; Wolfgang Munchau says e-bond is a necessary and sufficient step in crisis resolution; Germany and France are also pushing to stitch up the top ECB jobs, according to a news report; the ECB warns that banks are over-reliant on ECB funds, and pressure on funding is growing as banks are competing with sovereigns for limited finance; Barry Eichengreen says the periphery’s internal devaluation strategy requires debt restructuring; funding pressure will increase dramatically in January; bond spreads, meanwhile, are edging up again.

Letter from Dublin

By: Kevin O'Rourke

The news that taxpayers are to be squeezed while foreign bondholders escape scot-free brought outraged disbelief and anger in Ireland. This column looks at the political consequences.

Bail In or Break Out?

By: Casper de Vries

The list of options for solving the Euro crisis is running dry, except for the harsh relative wage and price adjustments. One can bail out one weak country after another. But at some point the system will be out of steam. If it comes to an exit, it will be the Northern countries that break out.

The Problem is That No One Wants to Invest

By: Adam Posen

The G20 policy agenda should shift its approach to resolving global imbalances away from targeting current account levels via fiscal policies or exchange rate interventions and should be working on increasing the rate of investment instead.

Is Ireland solvent?

By: Wolfgang Münchau und Raphael Cottin

This is a short essay on Irish solvency. Whether or not Ireland is solvent depends on future growth and tax revenues to service the debts. We are looking at various scenarios, and assess the implications.

Stand-alone ratings for countries – Remedial action in case of market failure

By: Ansgar Belke and Hans-Peter Burghof

The assessment of the peripheral states by rating agencies has up to now been severely misguided. Country ratings without the inclusion of external assistance would be much more transparent and precise.

The road to self-destruction of the eurozone

By: Paul de Grauwe

The sovereign debt default mechanism, if implemented, will lead the eurozone governments to downgrade their own sovereign debt. There is no surer way to self-destruction.

Angela Keynes

By: Mark Schieritz

Conservatives argue that Germany's current success is a consequences of its fiscal restraint. The problem with that story is that it is not true.

Not only governments are to blame for exploding government debts

By: Paul de Grauwe

Reforms of the eurozone governance should not only focus on the responsibilities of national governments but also on those of the European monetary authorities, and in particular those of the ECB.