European Central Bank Commentary

The Erosion of the EU

First came the economic troubles. Now the European Union also faces crises of policy, unity and democratic legitimacy

Curing What Ails Europe

Creating a fiscal union will cause more problems. Europe needs a different sort of medicine.

Five Great Misconceptions about the Euro Crisis

Americans are in denial. Europe's crisis is bigger and more far-reaching than Washington will admit.

The Revolt of the Political Man

Washington and Wall Street, the euro and the ECB have ruled for too long. Citizens are throwing off the golden straitjacket and reclaiming their voice.

Resuscitating the Euro

The eurozone is down, but not out. There may yet be hope for the euro's survival.

Europe Charges toward Second Great Depression

Europe is making the mistakes of the 1920s all over again, hoping this time to avoid another Great Depression—and world war.

Europe's Contagion Effect: Prepare for a Global Economic Collapse

Europe is fast approaching the moment of truth that will reveal whether it can solve the crisis or be consumed by it.

A Tale of Two Monasteries

A Christian church service that will either be a breakthrough in relations between Turkey and Armenia, or a disaster for the Turkish liberal elite.

Crisis in the EU

There are very real problems with the European project, but the eurozone isn’t going anywhere.

Japan Can Defend Itself

Why is Japan still being protected by American marines?

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May 26, 2012