The European Commission recently invoked the excessive deficit procedure against France.

ECONOMIST: Wait and see, again | The

Every time this procedure has been invoked the depositors were paid in full and had access to their money at all times.

WSJ: Economists Have Abandoned Principle

He would either have to accept an inspections regime he disliked, or choose to disregard the very procedure he had just invoked and attack Iraq regardless.

ECONOMIST: Iraq and the UN