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With Greece on the brink, Brussels is dangerously distracted by efforts to invent new European rules and institutions which will help prevent future sovereign debt crises. After protracted negotiations, MEPs and the European Council – which represents EU Member States – came to an agreement on the so-called “Six Pack” economic governance package. The deal… » read more

Posted by Gary Finnegan

The draft EU budget is a win for Geoghegan-Quinn but it won’t make her popular at home. The EU’s budget has been the subject of much wrangling of late, with the usual tug-of-war between interest groups from industry, agriculture and the rest. Ireland’s European Commissioner Máire Geoghegan-Quinn, who is responsible for research, innovation and science,… » read more

Posted by Gary Finnegan

Always say never

Over the past 18 months, observers have noted the alarming frequency with which things that were once ruled out of hand by EU leaders have become the norm. It began with the mantra-esque refrain of “We won’t bail out Greece”, which ultimately morphed into a commitment to back Athens to whatever extent becomes necessary. This… » read more

Posted by Gary Finnegan

Fears that Greece could default on its debt tops the EU agenda because it puts the balance sheets of a dozen German and French banks in peril. But Greece has already defaulted on its debts to companies. What is default? EU leaders have been trying to find a way around the fact that Greece cannot… » read more

Posted by Gary Finnegan