Stop rejoicing. This was no victory for the eurozone

Commentary feature. The German Federal Constitutional Court ruling in September 2011 significantly increases the chances of default by one or several eurozone member states, writes Wolfgang Münchau.

ESO: Background information: Find other Commentary Features in ESO on Challenges facing EMU http://www.europeansources.info/advSearchLink?keyword=commentary%20feature%20emu%20challenges%20&searchOption=all

ESO: Background information: German court upholds eurozone rescue / Merkel promises ‘euro will not fail’ http://www.europeansources.info/record/german-court-upholds-eurozone-rescue-merkel-promises-euro-will-not-fail/

ESO: Background information: Germany and the euro rescue agreements http://www.europeansources.info/record/germany-and-the-euro-rescue-agreements/

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