Christmas Comes Early Thanks to the European Commission

By Sam Willie

The Economist covers the European Commission’s announcement of a $393 million investment package aimed at kick-starting Europe’s economies. In response to the euro-zone’s economic crisis, the European Commission was given a great deal of power to regulate the budgets of those countries that utilize the Euro currency. The investment package is said to be just one prong of a larger plan, which includes efforts for structural reform and fiscal responsibility. Though many will welcome the financial fruits of the investment package, the EC has been criticized for failing to crack down on EU countries like France, Italy, and Belgium, who have broken promises to implement economic reforms and reduce budget deficits.