More Problems than Answers The Pitfalls of the Merkozy Fiscal Pact

The new fiscal compact that was agreed to at last week's EU summit is supposed to help Europe out of the debt crisis. But it represents a briar patch of thorny legal and political questions. Until now, Chancellor Merkel's government has adopted a take-it-or-leave-it approach with its euro rescue efforts. With the new pact, that is likely to change.
Flags in Berlin's government district: New plans for a European fiscal compact could cause headaches for the German government.

Flags in Berlin's government district: New plans for a European fiscal compact could cause headaches for the German government.

Foto: Markus Schreiber/ AP
Translated from the German by Ella Ornstein