Last night’s deal on the Euro represented the EU’s last best chance to find a way out of this crisis.  In another demonstration of the power of effectively locking people until until they agree, the Heads of State & Government produced a series of conclusions that went beyond many of the opening positions of the previous weeks.  Certainly, after much delay and prevarication, there appears to be a move to attempting a more long-lasting solution, although there is still a strong sense that Europe’s leaders are trying to get away with as little as possible, rather than building in extra room for manoeuvre.  This is the product of German unwillingness to be put on the hook any more than they already are and of the PIIG’s unhappiness about further encroachments on their sovereignty. Continue reading »

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