Daily Archives: September 9, 2011

Europe’s track record of getting its member states to abide by common debt rules is clearly a mixed bag. Perhaps not for long, if Günther Oettinger, the German energy commissioner has his way.

In an interview with Bild, the mass-circulation daily, Oettinger floats a new debt-busting plan which he hopes might succeed where past treaties have failed: countries with excessive debt should have to live with the mortification of having their national flags flown at half mast outside official European Union buildings.

The unconventional idea – acknowledged as such by the commissioner – “would only be a symbol, but it would be a powerful deterrent,” he said. Read more