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Euro Crisis

A Dispatch From Athens

OpedSpace | Posted 07.27.2015 | Politics
OpedSpace

For the past two weeks Greece has entered the climax of the Comedy of Errors - that is its six-year-old economic crisis. Banks have closed, referendums called, rallies and counter-rallies have been held, society divided and tales of conspiracies and Armageddon have become commonplace.

The Case For 'Europe'

OpedSpace | Posted 06.30.2015 | Politics
OpedSpace

Today we stand on the precipice of a European implosion. A popular referendum on July 5th may determine if Greece will leave the monetary union, and perhaps, according to its Central Bank, also the EU.

Is the Eurozone Drifting Apart?

Stefan Bielmeier | Posted 05.26.2015 | Business
Stefan Bielmeier

It now falls to Europe's politicians to act resolutely to stop the union drifting apart. Their present approach of endless negotiations and compromise formulas risks losing the last vestige of popular support.

Why Greece's Call for WWII Reparations From Germany Is a Very Bad Idea

Sylvie Goulard | Posted 04.12.2015 | World
Sylvie Goulard

No responsible leader worthy of the title should take the risk of threatening the peace which has reigned since the end of the Second World War.

Greek Finance Minister's Debt Diplomacy Hits A Wall In Germany

AP | By GEIR MOULSON and NICHOLAS PAPHITIS | Posted 04.07.2015 | World

BERLIN (AP) — A whistle-stop tour of European capitals netted Greece's finance minister few, if any, concessions over the country's debt — but the...

A Greece Reading List (Or, Why The Euro Is Doomed)

Druce Vertes, CFA | Posted 04.05.2015 | Business
Druce Vertes, CFA

Unless the political and economic integration catches up, a sufficiently big crisis will inevitably rip up the Euro zone.

3 Reasons The Euro Just Crashed To Its Lowest Level In 11 Years

The Huffington Post | Mark Gongloff | Posted 01.16.2015 | Business

Book that European vacation now, America: It hasn't been this cheap in 11 years. The euro was in a crashy mood on Friday, briefly falling to its lo...

Ben Walsh

Tim Geithner: The 3 Words That Saved The Euro Were Ad-Libbed

HuffingtonPost.com | Ben Walsh | Posted 11.13.2014 | Business

TK TK

Populist Death Wish for the Euro Would Plunge France into Depression

Jacques Attali | Posted 07.20.2014 | World
Jacques Attali

"The euro is to blame for everything. Without it, there would be no need for budgetary rigor and growth would return." This is surely the most absurd argument to arise from the nationalist and populist parties campaigning for the European Parliament elections.

Democracy's Conundrum: Reforms Take Time to Mature -- But Voters Want Results Now

Mario Monti | Posted 07.13.2014 | World
Mario Monti

All great reforms must first mature. To be successful, they must be fully understood by society. This process requires time and a lot of explanations. However, the need to obtain the consent of the people must not deter the leaders from their mission, even if it makes them unpopular. As it is written in the American Federalist Papers: "When occasions present themselves, in which the interests of the people are at variance with their inclinations, it is the duty of the persons whom they have appointed to be the guardians of those interests, to withstand the temporary delusion, in order to give them time and opportunity for more cool and sedate reflection (Federalist Papers Nr. 71). What is called "populism" nowadays is not really tantamount to defending the real interests of the people. Rather, it is a political ruse, which consists of using ultra-simplified language that is easily understood by the people, playing on their sense of fear, to conquer power.

What Really Divides Northern and Southern Europe?

Fabrizio Tassinari | Posted 07.08.2014 | World
Fabrizio Tassinari

What distinguishes the two halves of Europe, argues political scientist Francis Fukuyama, is the presence, in the North, of a "political coalition protecting the autonomy of the bureaucracy." Here civil service is largely perceived as impartial and entrusted with providing continuity to policymaking. Governance failures in Southern Europe, on the other hand, are inextricably tied to more or less pervasive forms of clientelism, which buries merit and frustrates reforms.

Nobel Laureates Amartya Sen And Joe Stiglitz Reject Embrace By Anti-Europe Populists

The WorldPost | Nathan Gardels | Posted 06.11.2014 | World

480504621 In the run up to the European parliamentary elections next month, anti-Europe populists, such as Marine Le Pen's National Front in France, have been fanning the nationalist flames by telling voters that two leading left-of center Nobel laureates in economics -- Amartya Sen and Joe Stiglitz -- oppose a more united Europe.

Euro Heretics: The Left Takes on the Euro

David Adler | Posted 02.18.2014 | Money
David Adler

The euro has happened. But is it a bad idea? Will it last? Despite the reality of the full-blown depressions in Southern Europe and pauperization of the middle and working classes there, European economists have not changed their tune.

When Breaking News Is Only Headlines: Germany, the European Union and the U.S.

Edward Goldberg | Posted 11.25.2013 | Politics
Edward Goldberg

Of all this week's international news -- the horrors in Kenya, Rouhani at the UN, the negotiations over Syria -- it is what some might call 'the boring German election' that will have the greatest long-term impact on the interests of the United States.

A Finance Minister Who Helped Start The Euro Now Wants To Abandon It

AP | Posted 07.06.2013 | Business

BERLIN — The leftwing opposition politician who was Germany's finance minister when the euro was adopted says it's time to think about abandonin...

LOOK: Thousands Rally Against European Austerity In May Day Protests

Reuters | Posted 07.01.2013 | World

By Clare Kane MADRID, May 1 (Reuters) - Workers hit by lower living standards and record high unemployment staged May Day protests a...

Europe Faces New Political Reality at Harvard

Lisa De Bode | Posted 05.05.2013 | World
Lisa De Bode

There is no one European identity, no one voice that speaks for the myriad of countries that make up the EU. Before increased monetary and fiscal integration can take place, European leaders need to focus on enhancing their political union.

'We Have The Worst Behind Us'

AP | Posted 12.27.2012 | Business

BERLIN -- Germany's finance minister says the worst of euro area's debt crisis appears to be over after three years of worries over Greece and other m...

Euro Zone Reaches Greek Debt Deal

Reuters | Posted 01.26.2013 | Business

* EU-IMF agree on cutting Greek debt-to-GDP level * Aim is to reduce Greek debt to 124 percent of GDP by 2020 * Interest...

Mr. Draghi's Dangerous Confidence Game

Laurence J. Kotlikoff | Posted 01.08.2013 | Money
Laurence J. Kotlikoff

European Central Bank (ECB) Chairman Draghi has a very big agenda. Armed with only a printing press, he's pledging to directly bail out the GIIPS (Greece, Italy, Ireland, Portugal and Spain) and indirectly bail out their economies.

Eurozone Debt Grows To Insane Level

Reuters | Posted 12.24.2012 | Business

By Jan Strupczewski BRUSSELS, Oct 24 (Reuters) - Euro zone government debt rose to 90 percent of the single currency area's gross domestic produ...

'We're No Longer Seen As Second-Class Citizens'

Reuters | Posted 12.14.2012 | Business

* Italian, Spanish bond yields are the new "fear index" * Politicians and public learn the bond market vocabulary ...

Money Printing Trumps Fundamentals

Michael Pento | Posted 12.09.2012 | Business
Michael Pento

Stock markets around the world continue to levitate despite the fact that the fundamentals behind the global economy continue to deteriorate. But that weak and worsening economic data didn't stop investors from sending stocks higher.

Saving the Euro and the EU: Can Europe Do It?

Haider Khan | Posted 12.03.2012 | College
Haider Khan

With the continuous outpouring of bleak economic data from the EU, many are expressing deep pessimism bordering on despair about the prospects for the sustainability of the monetary union.

Report: Greece Saved From Imminent Bankruptcy

Reuters | Posted 10.03.2012 | Business

BERLIN, Aug 4 (Reuters) - The European Central Bank (ECB) has saved Greece from bankruptcy for the time being by securing it interim financing in th...