problems, problems, problems

Today the spotlight has been on the UK economy and the promise of years of austerity. 

Meanwhile, problems in euroland continue to mount.  Today, the yield on Italy's sovereign debt went well beyond 7.5%.  So much for market confidence in the puppet installed by the EU to run the country and his band of non-elected appointees.

http://www.telegraph.co.uk/finance/financialcrisis/8922632/Italian-borrowing-costs-reach-new-highs.html

Spiegel carries an interesting article on how isolated Germany is on its stance on the euro, something this blog has mentioned numerous times.  Will German steadfastness, intransigence or bloody-mindedness (take your pick) prevail?  The title of the article is wrong.  Germany is more isolated.  At least the USA has the support of Blair in Iraq.

http://www.spiegel.de/international/europe/0,1518,800618,00.html

Finally,  an article on the German Constitutional Court  and posisble changes to its powers?  Now who was the last German Chancellor to sweep away constitutional provisions which potentially  stood in his way? 

http://www.spiegel.de/international/europe/0,1518,800465,00.html