The National Platform EU Research & Information Centre ☚

“The member states whose currency is the euro may establish a stability mechanism to be activated if indispensable to safeguard the stability of the euro area as a whole. The granting of any required financial assistance under the mechanism will be made subject to strict conditionality.”
- Amendment to Article 136 of [...]

Wolfgang Münchau
Financial Times
www.ft.com/cms/s/0/7e114d26-6115-11df-9bf0-00144feab49a.html
Monday 16 May 2010
The eurozone was never under speculative attack at any time. What happened was that investors, European pension funds among them, lost confidence in the system. And while fiscal profligacy was the root cause of the problems in Greece, it is not the root cause of the problems in Portugal and [...]