Treaty will not solve crisis

Germany and France's obsession with the fiscal compact shows that they have misdiagnosed the eurozone's affliction to suit themselves, writes David McWilliams.

4th March, 2012
Treaty will not solve crisis
The problem in Europe is not government deficits, it is that the rest of Europe can't keep up with the industrial might of Germany.

The other day, the cost of filling up our family car rose to €109, and the price of oil is going up and up every month. Looking out on the huge reclamation work going on in front of me at Abu Dhabi's Corniche region (where I am speaking at a conference), I pondered on the vast wealth of this place, where money for public works is no issue because of oil dollars.

Out beyond the...

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