As August draws to a close, Europe is bracing itself for a series of September sovereign
debt crises. Events in Germany at the moment have the potential to make these crises into events that could break the back of the Eurozone. As Ambrose Evans-Pritchard reports, Chancellor Merkel might not have the votes to push the European
Financial Stability Facility through the German parliament.
Merkel is currently under attack from all angles in Germany. Helmut Kohl has criticised her foreign policy, while the German president has implied that she should not have let the European Central Bank buy up so many poor quality bonds. It is now possible to see her coalition collapsing at some point in the near future.
The political uncertainty in Germany is going to make the markets even more anxious. This September has the potential to be a crucial month for the whole European project.
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