Are you, FT, Ok with this?

Sir, are you Ok with Article 32 of the Regulations of the European Financial Stabilisation Mechanism, ESM, which states the following: 

“The archives of the ESM and all documents belonging to the ESM or held by it, shall be inviolable.” 

Is that not taking Europe back, fast, to the dark ages?

A leap into the darkness defines 2007

Sir Gideon Rachman in “Five events that have defined 2007” December 18 unable to identify one single event gives us a list of them and argues that all are loosely linked together by the strain they put on the US. I do not agree with him. Among Rachman’s candidates is the “August: the credit crunch” and since even now, at the end of 2007, the supposedly most sophisticated financial machine that our knowledge economy has ever known does still not have a clue about where they find themselves, no one could have doubts that this event, almost a leap back into the dark ages, must by far be the most defining event of 2007.