You have to read this excellent chronicle on how the €750bn “rescue package” was drafted in a hurry on 9 May 2010 when nothing was planned 12 hours before. As short as 2 hours before their “shock and owe announcement”, nothing was decided.

You really have to read it. I insist.

I have worked with politicians in and around national and EU institutions so this is hardly a surprise for me. This article depicts politics as it actualy is: very confused, always in a hurry, totally unplanned, disrespectful of constitutional texts, always pretending everything is under control, full of incompetence, personal rivalry, and last-minute logrolling deals.

I hope this article will be an eye-opener for those who still think politicians are competent and plan for the long term.


4 thoughts on “Politics In the Making: How the €750bn Rescue Package Came Together

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  3. Pingback: Summary of the Week: Germany Seeks EU Treaty Changes After Agreeing to €750bn Eurozone Bailout « Alex Korbel

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