The European Union last week destroyed the illusion that the eurozone and the UK could happily coexist inside the EU. That may have made it a historic summit. But the decision to set up a fiscal union outside the European treaties will do nothing whatsoever to resolve the eurozone crisis.
Read the rest at The Financial Times
Snags, diversions – and the crisis goes on
by Wolfgang Münchau
1 comment:
OT, check out Matt Stoller's piece on how the Audit the Fed bill passed Congress. Always interesting to read about how the sausage is made.
http://www.nakedcapitalism.com/2011/12/matt-stoller-how-the-federal-reserve-fights.html
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