Commentary and weekly watch by Doug Noland

It has been labeled an intellectual exercise and ridiculed as intelligentsia. I'll stick defiantly to the view that it remains one of the most important issues of our time: are the US Treasury and government-related debt markets part of a historic credit bubble and global financial mania?

Merkel's Increasing Isolation - Germany At Odds With Partners Over Euro Crisis

Berlin has been unflinching it its efforts to both increase fiscal discipline in the euro zone and to avoid throwing more money at the European debt crisis. Increasingly, though, Germany's E.U. partners are unwilling to play along.

Merkel: Budget Rules May Be Fast-Tracked

Euro-area leaders may complete their new budget rulebook by Jan. 30, one month ahead of schedule, and could accelerate capital contributions to the debt crisis bailout fund

Greece Will Leave Euro, CDU Lawmaker Says in Challenge to Merkel

Greece will have to exit the euro area as it struggles under a mountain of debt, unable to regain its competitiveness without having its own currency to devalue, a senior lawmaker in Chancellor Angela Merkel’s party said.

Merkel Says Budget Rules May Be Done This Month to Stem Crisis

Euro-area leaders may complete their new budget rulebook by Jan. 30, one month ahead of schedule, and are considering accelerating capital contributions to the bailout fund being set up this year to stem the debt crisis.