Within weeks, Europe's spreading debt crisis will force Germany to decide on one of the most critical questions in the continent's postwar history: will currency union be strengthened or weakened?Germany, with the biggest and healthiest economy, has to make the call, and this has prompted a fierce n
Europe's economic problems are having real political consequences.A declining euro and government austerity measures have set off regular rounds of street protests and even riots. Political parties in Portugal and Ireland have been ousted from power this year.
The financial turmoil in Europe is creating social as well as economic problems in a number of countries, especially in Greece, which is suffering its worst recession in decades.Greece is the unwilling host to about 80 percent of Europe's illegal immigrants, and many Greeks are starting to resent th
With Italy in the crosshairs of the eurozone debt crisis, the European Central Bank is dictating to Rome the measures it should take to reduce its massive debt mountain.But the government is divided over draconian measures that go against the grain of Prime Minister Silvio Berlusconi's populist poli