EU Fumbling on Cyprus Makes Rehn Scapegoat for Austerity

European Union Economic and Monetary Affairs Commissioner Olli Rehn has emerged as the frontman for crisis-management policies driven out of Berlin that are spreading economic pain as debt turmoil reignites.

Rehn faced a torrent of criticism and a call to resign after helping broker a rescue package from Cyprus that fell apart on March 19 over a demand to raid bank deposits. He has become the defender of German-inspired austerity that helped deepen the 17-nation euro region’s recession.