Euro Bailout 2010 - DER SPIEGEL

Euro Bailout 2010

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World from Berlin 'Last Euro-Crisis Taboo Broken'

The decision to tax ordinary savings accounts at Cypriot banks as part of a 10 billion EU bailout package has been met with sharp backlash at home and abroad. The measure signifies a new level of escalation and could be too risky, German commentators say on Monday.

'Last Euro-Crisis Taboo Broken' - Petros Karadjias/ AP

The World from Berlin 'When Does Time Run Out for a Coalition?'

A rogue editorial by Angela Merkel's economy minister has caused unwelcome turmoil in the German debate over the euro. Merkel would like to show a united front in the European debt crisis, but dissent by Philipp Rösler, who is also vice chancellor, has called her whole government into question.

'When Does Time Run Out for a Coalition?' - Gregorio Borgia/ AP

Spreading Like Wildfire A Chronicle of the Euro Crisis

When the euro crisis started in Greece in October 2009, nobody had any idea how quickly or broadly it would spread -- or how difficult it would be to solve. Below, some key dates in this still-unfolding saga.

A Chronicle of the Euro Crisis - Corbis

Desperate Bid to Cut Deficit Greek Privatization Plan Faces Massive Domestic Resistance

Greece is scrimping and saving, but still failing to get its debt crisis under control. The government plans to raise 50 billion euros through a privatization program, but faces massive resistance from Greeks worried about selling off the nation's assets. Experts also doubt whether the strategy will work. Von Manfred Ertel

Greek Privatization Plan Faces Massive Domestic Resistance - Matt Cardy/ Getty Images

The Hidden Cost of Saving the Euro ECB's Balance Sheet Contains Massive Risks

While Europe is preoccupied with a possible restructuring of Greece's debt, huge risks lurk elsewhere -- in the balance sheet of the European Central Bank. The guardian of the single currency has taken on billions of euros worth of risky securities as collateral for loans to shore up the banks of struggling nations. Von Matthias Brendel und Christoph Pauly

ECB's Balance Sheet Contains Massive Risks - FABRICE COFFRINI/ AFP/Getty Images

Euro Falling on Contagion Fears Pressure Mounts for Portugal Bailout

Germany and France want to push Portugal to seek a bailout from the EU's rescue fund in order to stop the debt crisis from spreading to countries like Spain and Belgium, according to reports from SPIEGEL and Reuters. Portugal on Sunday denied any such pressure, but the euro is falling on fears of contagion.

Pressure Mounts for Portugal Bailout - DOMINIQUE FAGET/ AFP

Competing Visions France and Germany Split over Plans for European Economic Government

Both France and Germany want an economic government for Europe. The only problem is they have completely different things in mind. The conflict threatens to derail any chances of progress. Von Peter Müller und Michael Sauga

France and Germany Split over Plans for European Economic Government - Olivier Hoslet/ dpa

Demanding the Mark Back Opposition to the Euro Grows in Germany

Surveys show that many Germans are worried about the future of the euro, but the country's political parties are not taking their fears seriously. The number of grassroots initiatives against the common currency is increasing, and political observers say a Tea Party-style anti-euro movement could do well. Von Peter Müller

Opposition to the Euro Grows in Germany - Werksbild/ picture-alliance / dpa/dpaweb

Saving the Common Currency Berlin Denies Plans for a New Euro Stability Fund

Is Germany working on a new stability fund for the European common currency? A report in a Munich daily on Thursday claimed that Berlin was working with several other European capitals on such a plan. The Finance Ministry, however, says it is not. The confusion is typical of the EU's response to the euro crisis.

Berlin Denies Plans for a New Euro Stability Fund - JOHN KOLESIDIS/ REUTERS

Top Economists Debate the Crisis 'Clinging to the Euro Will Only Prolong the Agony'

Leading German economists Peter Bofinger and Stefan Homburg are split over the euro's chances of survival. In a discussion moderated by SPIEGEL, they talked about the wisdom of introducing a euro bond and what would happen if Germany left the common currency.

'The Threat of Insolvency' Bond Leader Pimco Sees Euro Zone in Danger

European leaders proudly announced agreement last week in efforts to save the euro. But Pimco, the world's leading investor in sovereign bonds, says that the measures are not enough. Some countries may have to temporarily leave the common currency union.

Bond Leader Pimco Sees Euro Zone in Danger - SERGIO PEREZ/ REUTERS

Berlin's Lack of Vision Europe Turns against Germany

Germany's controversial approach to fighting the euro crisis has split the European Union. Some countries are complaining about Berlin's rigid course, while others accuse Chancellor Merkel of betraying the European project. The only thing they can agree on is that the EU needs Germany as a motor if it is to survive. By SPIEGEL Staff

Europe Turns against Germany - JOHN THYS/ AFP

Saving the Euro Merkel's Ironic Victory in Brussels

It hasn't been an easy year for the EU, or for Angela Merkel. She played chief skeptic during the euro crisis, but the role ironically led her to forge a rescue mechanism for the continent's embattled currency. Von Carsten Volkery

Merkel's Ironic Victory in Brussels - Michel Euler/ AP

Euro Crisis Summit Chancellor Merkel Gets Her Way in Brussels

German Chancellor Angela Merkel had been heavily criticized in the run-up to this week's European summit in Brussels. But on Thursday, she got what she wanted -- a change to the Lisbon Treaty allowing future measures to combat currency crises. But will it be enough? Von Carsten Volkery

Chancellor Merkel Gets Her Way in Brussels - JOHN THYS/ AFP

The World from Berlin Unpopular Germany Faces 'Unpleasant' Years Ahead

Ahead of a crucial EU summit, German Chancellor Angela Merkel has been attacked from all sides. While many in the European Union are berating Berlin for its seeming lack of solidarity, opposition leaders at home are accusing her of dithering and populism. German commentators warn of a rough road ahead.

Unpopular Germany Faces 'Unpleasant' Years Ahead - dapd

Capitalizing on the Euro Crisis China Expands Its Influence in Europe

China is seizing on Europe's debt problems to expand its influence on the continent with large-scale investments and purchases of government bonds issued by highly-indebted states. The strategy could push Europe into the same financial dependency on China that is posing a dilemma for the US. Von Wieland Wagner

China Expands Its Influence in Europe - Orestis Panagiotou/ picture alliance / dpa

The Battle over the Euro-Bond Juncker Calls German Thinking 'Simple'

Germany has resisted calls for a joint Euro-Bond to help the euro zone's weaker members, but the chairman of the euro zone finance ministers says they need to study his proposal. Merkel's spokesman says they have.

Juncker Calls German Thinking 'Simple' - ? Sebastien Pirlet / Reuters/ REUTERS

Common Currency in Trouble What Europe Should Do about the Euro Crisis

Euro-zone members will have to take radical measures to tackle its current currency crisis. Europe needs a far-reaching debt restructuring mechanism -- but strangely, politicians have shown a preference for issuing yet more mountains of debt.

What Europe Should Do about the Euro Crisis - dpa

Row Over ECB Handling of Euro Crisis The Lonely Fight of Monetary Dogmatist Axel Weber

The head of the German central bank, Axel Weber, is openly critical of the way the European Central Bank has handled the euro's debt woes. He is fighting to uphold purist monetary principles that are untenable in the current crisis. His chances of succeeding Jean-Claude Trichet as ECB chief are waning as a result. Von Michael Sauga

The Lonely Fight of Monetary Dogmatist Axel Weber - ddp

Masterplan Fails to Calm Markets Europe's New Debt Mechanism Has Come too Late for Euro Crisis

Europe is celebrating its new masterplan to shore up the euro -- a debt rescheduling mechansim that forces private sector creditors to write down government debt in some cases. Analysts say the system is overdue but won't solve the current crisis. Von Stefan Schultz

Europe's New Debt Mechanism Has Come too Late for Euro Crisis - Karl-Josef Hildenbrand/ dpa

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