Lurching from crisis to crisis

Built on sand an edifice will crash to the ground.  The eurozone is in difficulties, probably in terminal decline, as it was not built on the secure foundation of a fiscal union, nor supported by a central bank with the necessary powers.

http://www.spiegel.de/international/europe/german-press-commentaries-on-eu-bailout-of-spanish-banks-a-838150.html

http://www.telegraph.co.uk/news/worldnews/europe/eu/9323510/The-world-is-watching.html

http://www.telegraph.co.uk/finance/personalfinance/offshorefinance/9323455/Spanish-debt-crisis-fear-of-a-bank-freeze-is-palpable.html

http://www.telegraph.co.uk/finance/markets/9324179/Debt-crisis-EU-contradicts-Rajoy-and-says-Spain-will-be-supervised.html
Well, well. Can one trust anything Rajoy says?

http://www.independent.co.uk/news/world/europe/fears-that-spains-bailout-relief-may-be-shortlived-7834912.html

http://www.telegraph.co.uk/finance/comment/jeremy-warner/9325265/This-latest-euro-fix-will-come-apart-in-less-than-a-month.html

http://www.telegraph.co.uk/finance/financialcrisis/9325242/Debt-crisis-Spain-deal-poses-more-questions-than-answers.html

Meanwhile, Cyprus begging bowl dusted down.

http://www.telegraph.co.uk/finance/financialcrisis/9324377/Cyprus-could-ask-for-bailout-within-days.html

Not forgetting the little matter of the Greek re-run general election.


http://www.telegraph.co.uk/finance/financialcrisis/9325260/Debt-crisis-Greek-vote-keeps-markets-guessing.html



New structures (or architecture, the in vogue word) afoot?

http://www.spiegel.de/international/europe/europe-looks-at-plans-for-poltical-union-and-budgetary-oversight-a-838142.html

and

http://www.spiegel.de/international/europe/europe-looks-at-plans-for-poltical-union-and-budgetary-oversight-a-838142-2.html
(This is not repetition of the link above.)