World News Insights
1-3 Minute Gist
Search, personalize, or simply browse. Follow the world around you from gist and context to insights.
Who we are | Our Credo | Ways of using Lyrarc | FAQ | Send Feedback | First Letter From the Editor
Sign up. It's free and easy to use
Create an account
to personalize your feed of articles and topics.
All Topics Article
Germany May Compromise on Joint Debt
Keywords:
Germany's finance minister, Wolfgang Schauble, says Germany can move faster than expected to allow shared liability of eurozone debt. He also accepts the need for short term measures such as the European Stability Facility buying bonds of Spain and Italy in private markets to drive down yields. Schauble indicated this flexibility in an hour long interview with the WSJ on June 27, 2012. This comes after Angela Merkel's remarks made in talks with coalition partners the Free Democrats that she would not accept any mutualization of debt in the eurozone in her life time. Schauble reiterated his view that before joint liability of debt can take place there has to be a joint EU fiscal policy, and sequencing was critical. He called for a EU fiscal commissioner arrangement for reviewing EU member budgets and policies. At the same time he said Germany was open to some level of mutual financial support between members of the eurozone, under the right conditions.
France and Italy's push for a new Eurozone Architecture
05/23/2012
France and Italy's push is for improved financing of growth projects, coordination of monetary policy with budgets and fiscal situation of eurozone states, and mapping out a pathway that leads to joint issuance of eurobonds. French officials in the Hollande administration say the lack of this architecture is the cause of many of today's problems. Prime minister Monti of Italy played a key role in pushing for the changes at meetings in Rome and Brussels in June 21-27, 2012.
Grouped Articles
The Man Whoâll Do Triage on Europeâs Banks
New York Times 10/20/2013
France to Press for New Euro-Zone Architecture at EU Summit
Wall Street Journal 05/23/2012
Euro Crisis Calls for Mix of Moves
Wall Street Journal 05/26/2012
In test for Europe, Ireland votes on fiscal treaty - The Washington Post
Washington Post 05/31/2012
Germany Open to Deal on Pooling Euro Debt, With Limits
New York Times 06/04/2012
Why the Bailout in Spain Won't Work
New York Times 06/11/2012
The importance of a deposit guarantee system for banks in the eurozone to avoid a run on banks in 2012-2013
06/11/2012
This is part of the architecture for the eurozone currrency that needs to be put in place quickly for the stability of the eurozone banking system.
Grouped Articles
Why the Bailout in Spain Won't Work
New York Times 06/11/2012
The Next Step for Europe Is Financial Union
Wall Street Journal 06/11/2012
Report Suggests ECB Bank Supervision
Wall Street Journal 06/26/2012
European Union Prods Germany With Fiscal Plan
New York Times 06/26/2012
Germany May Compromise on Joint Debt
Wall Street Journal 06/28/2012
Wall Street Journal 07/11/2012
New fiscal and budget controls in the Eurozone - 2012-2013
03/03/2010
Budget discipline measures for the eurozone taken at the Jan 30, 2012 summit and at other EU meetings.
Grouped Articles
Wall Street Journal 03/03/2010
Economist 05/13/2010
Euro-Zone Budget Controls Proposed
Wall Street Journal 11/22/2011
In euro zone crisis, Germany is the reluctant savior - The Washington Post
Washington Post 12/04/2011
European Leaders Agree to New Budget Discipline Measures
New York Times 01/30/2012
Europe Needs the Bond Vigilantes
Wall Street Journal 04/05/2012
How Mario Draghi, ECB president, sees the problems in the eurozone and policy direction in 2012-2015
01/11/2010
A wide ranging interview with Mario Draghi by Wall Street Journal reporters Blackstone, Karnitschnig and Thomson, which gives insights on how Draghi sees solutions to the crisis in the eurozone and future policy. Draghi favors good fiscal consolidation which combines freeing up labor markets and structural changes for Italy, Spain and other southern countries, with spending reductions, and capital investment in the future as opposed to tax increases for current spending and lack of capital investment for future growth. He points out that with excessive debt to GDP ratios there is no alternative to this right kind of fiscal consolidation. The fiscal consolidation gives the structural changes time to be put in place..
Grouped Articles
ECB Moves Markets, Not Economy
Wall Street Journal 05/03/2013
The Man Whoâll Do Triage on Europeâs Banks
New York Times 10/20/2013
ECB Struggles With Low-Altitude Flying
Wall Street Journal 11/10/2013
Euro Strengthens as Fears Fade
Wall Street Journal 01/12/2013
Bonds of Italy, Spain Narrow Gap With U.S., German Yields
Wall Street Journal 04/09/2014
E.C.B. Plots Strategy for Staving Off Deflation
New York Times 05/26/2014
What does Germany want from the Euro and the European Union? The Euro issue facing Germany in 2011-2015
03/03/2010
German political leaders do not want a "transfer union." At the same time they want to keep the European Union, just as much as Chancellor Kohl and Chancellor Adenauer. Merkel, Schroeder, Schauble and other leaders agree on the need for the European Union. The question is how to bring fiscal discipline to the EU, even if this means redesigning the structure of the EU. The vision of a united Europe persists.
Grouped Articles
Wall Street Journal 03/03/2010
Germany's Surplus Isn't the Problem
Wall Street Journal 11/11/2013
New York Times 05/22/2014
Greek Crisis Shows How Germany’s Power Polarizes Europe
Wall Street Journal 07/07/2015
Economist 08/08/2015
Charlemagne: Germany’s euro question
Economist 09/10/2011
Eduardo Porter on the choices facing Germany in 2012-2013
06/26/2012
As European leaders jointly push Germany to accept deposit insurance for European banks, European banking regulation, and eurobonds, Porter looks at the choices facing Germany. Eichengren of UC Berkeley says Ms. Merkel may be trying to extract as many quid pro quos as possible as she continues to oppose all moves to aid financially troubled eurozone countries. In the end says Porter it is in Germany's interest to relent, as the costs have been overstated, Germany will not forfeit aid money, and Germany is the main beneficiary of the declining competitiveness of its neighbors. A return to the deutsche mark now would present deeper problems for Germany as its exports would decline.
Grouped Articles
New York Times 11/03/2013
Germanyâs Neighbors Admonish It Over Surplus
New York Times 11/13/2013
Americanized Labor Policy Is Spreading in Europe
New York Times 12/03/2013
Germany’s flagging economy: Build some bridges and roads, Mrs Merkel
Economist 10/17/2014
Why Germany Will Pay Up to Save the Euro
New York Times 06/26/2012
Report Suggests ECB Bank Supervision
Wall Street Journal 06/26/2012
The European Banking Agenda in 2012-2014- deposit insurance and powers of banking supervision transferred to a European supervisory authority
03/03/2010
On the agenda during discussions in June between the EC, ECB and the German government, is deposit insurance for eurozone banks, and a supervisory financial authority for eurozone banks (Single Resolution Mechanism) within the EC with powers transferred from sovereign states to the the supervisory banking authority. These issues take priority because of fears of bank runs on banks in Greece, Spain and other countries. France is pushing for a new Eurozone Architecture that will form the basis of the euro currency.
Grouped Articles
ECB Hits the Road for Star Supervisors
Wall Street Journal 06/26/2013
European Union Offers Berlin Compromise on Bank Proposal
New York Times 07/12/2013
Wall Street Journal 03/03/2010
The Man Whoâll Do Triage on Europeâs Banks
New York Times 10/20/2013
ECB Nominates French Regulator for Euro-Zone Post
Wall Street Journal 11/23/2013
ECB Nominates New Banking Regulator
New York Times 11/20/2013
France's Finance Minister Lagarde on the discipline and coordination needed for the euro to work.
03/03/2010
This discipline and tight fiscal coordination would be imposed on eurozone countries as part of the effort to make the euro experiment work. Lagarde is interviewed by Carney and Jolis of the WSJ.
Grouped Articles
Wall Street Journal 03/03/2010
Charlie Rose Talks to Christine Lagarde
BusinessWeek 04/28/2010
Toward a United States of Europe
Wall Street Journal 12/18/2010
Wall Street Journal 12/20/2010
Wall Street Journal 01/14/2011
Europeâs Odd Couple: Sarkozy and Merkel
New York Times 01/13/2011
The EU Summit, December 9, 2011
12/09/2011
The German position not to allow large scale bond buying by the ECB remained unchanged. The focus continued on getting debt brakes and fiscal discipline rules set for the eurozone members. The ECB's Mario Draghi opposes central banks of Europe sending money to the IMF which would be used to support EU countries with debt problems. The ECB lowered interest rates by 0.25% for the eurozone, bringing interest rates to 1%, and reversing earlier ECB policies under Trichet that increased rates. In addition the ECB will provide unlimited funding to European commercial banks for longer maturities of 3 years, instead of the current 1 year maturity.
Grouped Articles
Wall Street Journal 12/09/2011
British Prime Minister Cameron’s veto of E.U. pact splinters his coalition - The Washington Post
Washington Post 12/11/2011
Legal Uncertainty Imperils EU Agreement
Wall Street Journal 12/14/2011
Leaders Grow Further Apart on Solutions
Wall Street Journal 12/15/2011
The Euro Zone's Double Failure
Wall Street Journal 12/15/2011
Euro Treaty to Require Only 9 Nations for Ratification
New York Times 12/16/2011
Ratification of Europe's Fiscal Treaty following the EU Summit of Dec. 9, 2011
12/16/2011
Approval of the fiscal compact agreed to at the European Union summit of December 9, 2011 sets a low threshold, with it going into effect if 12 of 27 countries approve it.
Grouped Articles
Euro Treaty to Require Only 9 Nations for Ratification
New York Times 12/16/2011
Germany's Merkel to Need Opposition Help in Approving EU Fiscal Pact
Wall Street Journal 03/03/2012
Europe Needs the Bond Vigilantes
Wall Street Journal 04/05/2012
Wall Street Journal 04/26/2012
In test for Europe, Ireland votes on fiscal treaty - The Washington Post
Washington Post 05/31/2012
Germany May Compromise on Joint Debt
Wall Street Journal 06/28/2012
Angela Merkel's handling of the financial crises in eurozone countries
04/29/2010
The German response to the debt crisis in the eurozone and the events in 2011-2012.
Grouped Articles
As Greek Drama Plays Out, Where Is Europe?
New York Times 04/29/2010
Germany Clears Rescue for Greece
New York Times 05/03/2010
Economist 05/13/2010
Germans Respond to Merkel's 'Motherly' Side
Wall Street Journal 08/23/2013
Merkel Wins Big in German Election
Wall Street Journal 09/23/2013
Germany's Surplus Isn't the Problem
Wall Street Journal 11/11/2013
Short term actions to save the euro taken at the Brussels negotiations on June 28, 2012
01/11/2012
Short term steps Germany agreed to when pushed hard by Italy, Spain and France, include the critical actions to let the European rescue funds to directly buy Italian and Spanish bonds on private markets to drive down bond yields, and provide direct aid to Italian and Spanish banks. The two steps were vital to restore market confidence and necessary if the European project was to be saved. The marathon negotiation stetched for 14 hours with brinksmanship, and were described by prime minister Monti of Italy as "hard and tense" but worth it.
Grouped Articles
Italy's Monti Hopes Summit Win Plays at Home
Wall Street Journal 06/29/2012
Global Markets Soar on European Breakthrough
New York Times 06/29/2012
Return of Long-Term Bond Buyers Seen as Crucial to Europe
New York Times 06/29/2012
German Election Overturns Political Order
Wall Street Journal 09/23/2013
Italy Leader, Monti, Tells Germany Austerity Isn't Enough
New York Times 01/11/2012
Euro Strengthens as Fears Fade
Wall Street Journal 01/12/2013
German finance minister Schauble and chancellor Merkel's acceptance of some shared level of mutual financial support in the Eurozone
06/28/2012
Linked Articles
Germany May Compromise on Joint Debt
Wall Street Journal 06/28/2012
European leaders agree to use bailout fund to help banks - The Washington Post
Washington Post 06/29/2012
We took a different way to help millions around the world build educated informed mindsets that affects and shapes their lives. For a future that is open, global and digital, with everyone having access to high quality information. We believe in the renewal of America, renewal of Europe, the renewal of India, the rest of Asia, Latin America and Africa. The renewal of our supply chains, health, education, infrastructure, as we rebuild our countries after the pandemic. Literacy and knowledge we believe cannot thrive and grow in a world of web bots, web crawlers, or AI. This requires human curiosity, human learning, and human imagination. We take as inspiration the saying- “One has to be free, and as broad as sky. One has to have a mind that is crystal clear, only then can truth shine in it.” Every contribution whether big or small is precious- in this crisis and ahead.
Support Lyrarc from as small as $1
Terms and Conditions | Copyright Policy | Privacy Policy | Contact Us