Word: commissioners
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Dates: during 2000-2009
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Since meeting him, I had always had the goal of working with Max on a public commission. I was lucky to get that chance during his last few months, when we teamed up in a competition to design a new museum of African-American history and culture. The more I...
The simultaneous applause and admonition reflect the paradoxical role of the European Commission. Often described as the engine of European integration, the Commission also is responsible for disciplining individual member states that violate E.U. rules. The rules in question are part of Europe's Stability and Growth Pact set up...
But the need for urgent action during the financial crisis has caused some schizophrenic behavior. Last fall, the commission encouraged E.U. member states to agree to stimulus programs worth around $250 billion, arguing that the crisis demanded radical action. But last week, the very same body said six E.U. countries...
To be fair, the Stability and Growth Pact's credibility was straining long before the downturn. Most E.U. member states have run budget deficits beyond the 3% ceiling from time to time, while many have breached the pact's other main criterion: that national debt stay below 60% of GDP...
The commission predicts the E.U. economy will shrink 1.8% in 2009. That's going to make borrowing crucial. Ireland's budget deficit is projected to rise to 13% of GDP by 2010; Britain's could hit 9.6%. France and Germany are both expected to blast through the 3% ceiling. The...