German finance minister Wolfgang Schäuble, Luxembourg’s finance minister Pierre Gramegna  and eurogroup president Jeroen Dijsselbloem: forgiveness of debt has been a great boon to Germany. Photograph: Stephanie Lecocq

For most of human history the moral opprobrium associated with credit was attached to the lender, not the borrower. Aristotle and Plato poured scorn o(...)

German finance minister Wolfgang Schäuble will divert tax takings for new “euro budget”. Photograph: Eric Luke

German finance minister Wolfgang Schäuble is ready to divert some of his country’s national sales and income tax takings to bankroll a new “euro budg(...)

 Greek Prime Minister Alexis Tsipras addresses the  Greek Parliament on July 22nd, prior to its approval of  tough new conditions set by European creditors. Photograph: EPA/Yannis Kolesidis

What does the future hold for the euro zone after the abyss of a “Grexit”? Many have predicted the euro “experiment” will end and the era of national (...)

German Chancellor Angela Merkel and German Finance Minister Wolfgang Schäuble during a special session of the German Bundestag over the proposed bailout package for Greece last week.  Photograph: EPA/BERND VON JUTRCZENKA

There is no euro zone crisis. It’s impossible to understand what’s going on now if you start out with the assumption that there is a single community (...)

Yanis Varoufakis: the former Greek finance minister’s book on the global economy is uneven, but his basic diagnosis may be correct. Photograph: Christian Hartmann/Reuters

This is some time to be reviewing Yanis Varoufakis. Greece teeters on the edge of the euro zone, its fate a matter of ferocious dispute between Europe(...)

German finance minister Wolfgang Schäuble: “Politicians have their responsibility for their office. No one can force them.” Photograph: Thierry Charlier/AFP/Getty Images.

Cracks are widening in Germany’s ruling grand coalition over a third aid programme for Greece, a week after Berlin proposed a “time-out” euro zone ex(...)

German chancellor Angela Merkel and German finance minister Wolfgang Schauble during a special session of the German Bundestag over the proposed bailout package for Greece, in Berlin, Germany, yesterday. Photograph: Bernd von Jutrczenka/EPA

For her 61st birthday yesterday, Angela Merkel received two presents in the Bundestag. The first – welcome but unnecessary – was a bunch of flowers. T(...)

German Chancellor Angela Merkel speaks during debates prior to a vote over the third EU financial aid package Photograph:Sean Gallup/Getty Images 1:47

Germany’s Bundestag has mandated Berlin to join talks on a third bailout for Greece, after Chancellor Angela Merkel warned that the outcome will deter(...)

Brussels all-nighter.... Greek Prime Minister Alexis Tsipras (right)  and Finance Minister Euclide Tsakalotos leave at the end of the  euro zone summit on Monday.   Photograph:  Thierry Charlier/AFP/Getty Images

What’s the difference between the Mafia and the current European leadership? The Mafia makes you an offer you can’t refuse. The leaders of the Europea(...)

Euro group  .... President of the eurogroup Jeroen Dijsselbloem (centre) is seen with   Minister for Finance Michael Noonan   prior to the start of the eurogroup meeting in Brussels on Monday.   Photograph:  Thierry Charlier/AFP/Getty Images

Eight emergency meetings of finance ministers, three crisis summits, and a country on its knees. This is the sum total of four weeks of European diplo(...)