The EU's pre-summer-break summit looms large on next week's agenda, as the crisis, which wrecked Greece, threatens to engulf Italy and Spain.
The centerpiece of the event will be proposals drafted by the EU commission, the EU Council, the central bank and eurozone leaders on a future banking union and political Union.
Several previous summits were already billed as make-or-break events for the single currency and the world economy.
In the run-up to this one, Moody's cut th...
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Nikolaj joined EUobserver in 2012 and covers home affairs. He is originally from Denmark, but spent much of his life in France and in Belgium. He was awarded the King Baudouin Foundation grant for investigative journalism in 2010.