The French crisis, which is currently erupting in violent protests, has deep roots. However, one need not go back as far as the time of the Great Revolution to understand why the country is so angry and agitated. France’s peculiar role in Europe – within the European community of nations and the monetary union of the last 50 years – is more than enough to explain the frustration. …
Nothing is currently being discussed more than the trend in government bond yields. A look at the figures helps to distinguish scaremongering from reliable information. Nothing is out of the ordinary at the moment apart from the scale of speculation about what the central banks will do next. …
Astute writers such as Michael Sauga of *Der Spiegel* realise immediately when things get serious: Europe needs austerity now. If Europe does not implement an austerity programme straight away, it is doomed. Europe must cut spending come what may. The best option would be an austerity programme in the style of Schröder’s Agenda. …
