Simone Foxman, Business Insider July 2, 2012 16:26

Fears about the imminent collapse of the European financial system appeared to have subsided somewhat since last week's EU summit — but there could be a big kink in this plan.

EU summit is a watershed moment for Europe

Simone Foxman, Business InsiderJune 29, 2012 16:38

Regardless of whether or not investors feel that EU leaders have done enough to adequately address growing concerns about the sustainability of Europe's economy, they have finally addressed short-term concerns about the shaky European economy.

Did Merkel just get trounced?

Simone Foxman, Business InsiderJune 29, 2012 14:37

So far, investors have argued that German Chancellor Angela Merkel is the big loser at this week's EU summit, as new deals struck mean Germany will have to shell out more cash.

Euro summit: Merkel displeased by developments

Paul AmesJune 28, 2012 16:42

Not only is the German leader reportedly very unhappy with proposals on the summit table that call for euro bonds to share out Europe's debt burden. Her country's soccer team lost 2-1 to Italy.

Europe's summit to end all summits

Paul AmesJune 28, 2012 14:37

BRUSSELS - The latest crucial summit to save the euro got under way Thursday with a heat wave gripping Brussels and dire warnings that the fate of the continent was hanging in the balance.

Another bailout in Europe, this time for Cyprus

Wolf Richter, Business InsiderJune 28, 2012 14:59

Finland doesn’t get the white-hot attention Germany does, but it should because it could be the driving force behind a breakup of the Eurozone. And it fired another shot: It demanded collateral for its share of the billions of euros that Cyprus would receive from the bailout Troika.

Michael GoldfarbJanuary 31, 2012 07:48

It's Europe, they do summits differently here

Leaders agree fiscal compact - details left for later

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The EU's Big Three: French President Nicolas Sarkozy, German Chancellor Angela Merkel and Italian Prime Minister Mario Monti at eysterday's summit in Brussels. (PHILIPPE WOJAZER/AFP/Getty Images)

EU leaders met in Brussels yesterday. By their standards things went well. Contentious pre-summit issues were kicked aside - in this case, Germany did not push for the right to install a budget czar in Greece. Agreement was reached on a new fiscal compact for the euro zone, although the details of what was agreed were left for later. A lot of money was pledged, enough to make a person wonder where it will come from given how indebted many European governments are.

Michael GoldfarbDecember 13, 2011 08:17

Finger pointing continues over Britain's "veto"

EC President Barrosso condemns Britain's negotiating stance at last week's summit

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EC President Jose Manuel Barrosso reports on last week's summit. He was diplomatic - but clearly unhappy with David Cameron (FREDERICK FLORIN/AFP/Getty Images)

David Cameron continues to reap the whirlwind over his actions at last week's EU summit

Michael GoldfarbDecember 12, 2011 08:18

American history day in Britain

British commentators see the ghost of Herbert Hoover in the outcome of the EU summit

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Dwight David Eisenhower - a Republican President today's UK Labour Party can do business with. (AFP/Getty Images)

It's American history week here in Britain. On the right and the left, the name of Herbert Hoover is being invoked.

At the right-wing Daily Telegraph Ambrose Evans-Pritchard rails against the tight rules on budget deficits and debts agreed at last week's EU summit in a piece headlined: "Merkel's Teutonic summit enshrines Hooverism in EU treaty law." The sub-head of his piece says it all:

Michael GoldfarbDecember 9, 2011 12:54

Something extra from the European Summit for policy wonks and law students

Final communique hints at a way for Britain to still veto the EU treaty.

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David Cameron strides purposefully at the European Summit. He has taken Britain out of the equation of the EU for the moment but that could change. (GEORGES GOBET/AFP/Getty Images)

For euro wonks here is a link to the final communique from the European Summit. The leaders called for a "new deal" between euro area nations to be enshrined in "ambitious rules " that are legally binding.

The key points:

Annual structural deficit not to exceed 0.5% of nominal GDP

Automatic "consequences" for euro zone nations whose deficits rise above 3% of GDP.