ANALYSIS: WHY THE REAL EU FUHRER IS NOW MARIO DRAGHI


Worth spending those precious rare spare moments to read.

The Slog.

Slipping quietly onto the Telegraph’s website at 10.45 pm Thursday night was this potentially earth-shaking piece (the italics are mine): ‘EU agrees rules on bank rescues by bailout fund: using the €500bn rescue fund to shore up struggling banks directly is a pillar of Europe’s so-called banking union, which seeks to hand European institutions the job of supervision and rescue rather than leaving weaker member states to fend for themselves.’ It came to nine lines in total, attracted six comments, and has now been reduced to a tiny sub-head 75% of the way down the Finance page.

History will come to see this as perhaps the outstanding media miss of the entire eurozone crisis.

It’s entirely contrary to the Lisbon Treaty of course – but let’s not worry about that: Gordon Brown never wanted to sign the bloody thing anyway. The more important point to make here is that the…

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