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Lehman Brothers headquarters in New York. The bank's collapse in 2008 took the world by surprise (Photo: sachab)

Crisis-prone summer as EU officials go on vacation

Amid a "clear risk" of potentially seismic events in the eurozone and the Arab world in the next six weeks, EU institutions will drop to staff levels of just 20 percent as officials go on holiday, limiting their capacity to react.

On the financial side, eurocrats can fly to Tuscany - a favoured location - happy in the knowledge that some of the biggest events will fall either side of their break.

The EU will on Friday (15 July) publish the results of stress tests on 90 major bank...

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Author Bio

Andrew Rettman is EUobserver's foreign editor, writing about foreign and security issues since 2005. He is Polish, but grew up in the UK, and lives in Brussels. He has also written for The Guardian, The Times of London, and Intelligence Online.

Lehman Brothers headquarters in New York. The bank's collapse in 2008 took the world by surprise (Photo: sachab)

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Author Bio

Andrew Rettman is EUobserver's foreign editor, writing about foreign and security issues since 2005. He is Polish, but grew up in the UK, and lives in Brussels. He has also written for The Guardian, The Times of London, and Intelligence Online.

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