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The Dublin anti-austerity march organised in February by the Irish Congress of Trade Unions. “It beggars belief that five years into austerity any government needs to be pressured by outsiders to do something which could save hundreds of millions of euro annually without pain for citizens.” Photograph: Dara Mac Dónaill

When the EU-IMF troika first arrived in Dublin at the end of 2010, prospects for a successful bailout were considered better than those of Gree(...)

The social welfare office on Bishop Street, Dublin. Irish youth unemployment dipped slightly last December but has returned to 30.8 per cent, just shy of where it was a year ago. Photograph: Frank Miller

For anyone trying to visualise the euro zone crisis, the relentless upward sweep of Eurostat’s jobless rate graph speaks for itself. Acco(...)

Modern movement conservatism in the US, which transformed the Republican Party (GOP) from the moderate party of Dwight Eisenhower into the radi(...)

Former German chancellor Gerhard Schröder: Even I learned in my term of office that Germany can only lead in Europe the way hedgehogs make love: very carefully.” Photograph: Getty Images

German ex-chancellor Gerhard Schröder has broken his golden rule since retiring from politics and come out in defence of his little-loved succe(...)

Europe has demanded that large depositors in the country’s two largest banks — Bank of Cyprus and Laiki Bank — accept across-the-board losses in order to pay for the €16 billion bailout. Photograph:  Bogdan Cristel/Reuters

Large depositors at Cyprus’s largest bank may be forced to accept losses of up to 60 per cent, far more than initially feared under the Europea(...)

Students saying no  to austerity measures in front of the Cypriot parliament building in Nicosia earlier this week.   Photograph: Milos Bicanski

‘I believe we are at this moment sleeping on a volcano.” Alexis de Tocqueville’s speech to the French national assembly on January 29th, 1848, (...)

An explosion this evening near Greece’s most famous monument, the Acropolis, followed a warning call to a Greek newspaper. Photograph: Angelos Tzortzinis/Bloomberg

A bomb exploded outside a ship owner’s house near the Acropolis in central Athens tonight, causing damage but no injuries, police said. (...)

“It was the Irish government that imposed the farthest-reaching guarantee for its banking system at the start of the crisis – on its own initiative,” said German finance minister Wolfgang Schäuble. Photograph: Eric Luke

On a dismal Tuesday night, 600 Berliners have braved the snow and a bitter, Siberian wind to fill the Deutsches Theater. Six bankers prowl the (...)

Supporters of the extreme right Golden Dawn party during a rally over the crisis in Cyprus, outside the German embassy in Athens last week. The banner reads: “No to Germany’s anti-Greek policy.” Photograph:  Reuters/John Kolesidis

There is a tendency, whenever a euro zone country gets into difficulty and needs help from its neighbours, to blame Germany for the severity of(...)

France’s finance minister Pierre Moscovici (left), IMF managing director Christine Lagarde, and Germany’s finance minister Wolfgang Schäuble  at  a Eurogroup meeting  in Brussels.  Photograph: Sebastien Pirlet/Reuters

Chancellor Angela Merkel has welcomed yesterday’s agreement with Cyprus for sparing taxpayers with (...)

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