For two years now, one European summit after another has ended with assurances that – at long last – the necessary measures for containing the eurozone’s sovereign-debt crisis have been taken. Most were publicly portrayed as breakthroughs, though they were nothing of the sort. As a rule, it took about three days before markets caught on and the crisis entered another round.
Because Europe’s political leaders have failed to manage the crisis effectively, the cost of ending it has risen...Read Full Story
The eurozone is at the center of the global financial crisis, because only there, in the realm of the second most important currency after the dollar, does the crisis hit a weak “structure” rather than a state with real power. It is a structure that is squandering the trust of citizens and markets in its ability to resolve conflicts – while pushing the international financial system to the brink of disaster.Read Full Story
Returning to Europe lately after a six-day trip to the United States, I wondered for the first time while reading the press on the recent Irish crisis whether the euro – and thus the European Union – might possibly fail. This could happen because, in the long run, the EU won’t be able to withstand its conflicts of interest and the resulting process of “renationalization” in all member states without suffering grave damage.
At the height of the Irish crisis – mainly a crisis of confidence in...Read Full Story
Slowly, word is getting round – even in Germany – that the financial crisis could destroy the European unification project in its entirety, because it demonstrates, quite relentlessly, the weaknesses of the eurozone and its construction. Those weaknesses are less financial or economic than political.Read Full Story
Finally, German Chancellor Angela Merkel has accepted a new form of European Union. More than ever, the EU must combine greater stability, financial transfers, and mutual solidarity if the entire European project is to be prevented from collapsing under the weight of the ongoing sovereign-debt crisis.Read Full Story
BERLIN – For two years now, one European summit after another has ended with assurances that – at long last – the necessary measures for containing the eurozone's sovereign-debt crisis have been taken. Most were publicly portrayed as breakthroughs, though they were nothing of the sort. As a rule, it took about three days before markets caught on and the crisis entered another round.
DEEPER UNION: FORMER GERMAN foreign minister Joschka Fischer has said there would be “extreme consequences” for Ireland should it reject a referendum on the fiscal compact. Mr Fischer told a Dublin audience last night that this time Ireland would not ...
In his widely published op-ed entitled "Iran on the Warpath", former German foreign minister Joschka Fischer has correctly emphasized the consequences of a potential war on Iran. Not only the democracy movement in Iran itself but also the "Arab Spring" would come to an end, Fischer writes. -Dr. Mohssen Massarrat and Dr. Bahman Nirumand
JERUSALEM, Oct. 5 (Xinhua) -- Israeli Prime Minister-designate Tzipi Livni on Sunday reiterated her commitment to talks with the Palestinians, saying peace efforts should not be jeopardize by "political changes." In her first foreign policy speech ...
Joschka Fischer was born in Gerabronn in Baden-Württemberg, Germany on April 12, 1948, the third child of a German family, which had for many generations settled in Hungary. His ...
Dr. h.c. (Haifa) Joseph Martin "Joschka" Fischer Bundesminister a.D. (born April 12, 1948) was German foreign minister and Vice Chancellor in the government of Gerhard Schröder ...