Was the outcome of the Brussels summit a bad one for the EU? Not at all. The British were never completely dedicated to European unity and the ongoing project of greater fiscal integration is better off without them.
More Problems than Answers: The Pitfalls of the Merkozy Fiscal Pact – Spiegel
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.
Merkel's Human Side: Iron Angie Is Only Half the Story – Spiegel
Angela Merkel often seems like a bureaucratic machine -- cold and unapproachable. But she has quite a lively disposition, even if she rarely shows it. That would explain why German democracy seems so arid and why her policies on Europe seem to be missing a certain level of emotion. If she opened up more, it would be better for everyone.
A stress test performed on European banks last week found a capital shortfall of some 115 billion euros. In a SPIEGEL interview, European Banking Authority head Andrea Enria defends the decision to perform the stress test and discusses the huge challenges facing the European banking sector.
Divisions in eurozone over ECB bond-buying – The Telegraph
The eurozone was facing fresh splits today after one of the European Central Bank’s most senior figures said the bank should not be used to fund national debts and that if it was forced to, it would mean the end of the single currency.
Euro at risk if countries fail to play game of carrot and stick – The Telegraph
More bad news for Christian Noyer, the governor of the French central bank who's been fuming over Britain's AAA credit status.
George Osborne, David Cameron and Christian Noyer have big roles in the pantomime of eurozone politics.
Why the euro turkey is well and truly stuffed – The Telegraph
The coming break-up of the single currency makes Britain’s veto seem a mere sideshow, writes Jeff Randall.
The season of good cheer may be upon us but in this, my last column of the year, I want to discuss the attractions of good riddance. My subject is Britain’s relations with the EU
Evans-Pritchard: Europe's Left has suffered a calamitous six months. Socialist governments have met historic defeats in Portugal and Spain. Greece’s Pasok party was toppled by an EU technocrat Putsch. Ireland’s soft-Left Fianna Foil lost every seat in Dublin.
Revealed: the text of the new euro treaty – The Telegraph