Serious Setback to Bailouters in Europe, But No Final Defeat Yet:
Seen through the eyes of Germany's Chancellor Angela Merkel, the election results in France and Greece removed two of her main partners in the euro austerity/bailout scenario—of which at least the Fiscal Pact is now called into doubt since President-elect Francois Hollande opposes anchoring the "debt brake," a centerpiece of the Pact, to the French Constitution.
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Seen through the eyes of Germany's Chancellor Angela Merkel, the election results in France and Greece removed two of her main partners in the euro austerity/bailout scenario—of which at least the Fiscal Pact is now called into doubt since President-elect Francois Hollande opposes anchoring the "debt brake," a centerpiece of the Pact, to the French Constitution.
read more
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