The Pitfalls of the Merkozy Fiscal Pact

The Pitfalls of the Merkozy Fiscal Pact

The new fiscal compact that was agreed to at last week's EU summit is supposed to help Europe out of the debt crisis. But it represents a literal briar patch of thorny legal and political questions. Until now, Chancellor Merkel's government has adopted a take it or leave it approach with its euro rescue efforts. With the new pact, that is likely to change.

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