Fast-forward to 2014. There is a contradiction and an absurdity at the heart of the SNP's economic claims regarding a currency union and, ultimately, the party's case for independence.
Restoring domestic demand needs to be Greece's economic policy emphasis. Despite any downsides, a parallel currency that supports an employment guarantee program would be a U-turn towards rebuilding the population's purchasing power -- and rebuilding Greece's ravished economy.
I ask European citizens to bring forward their own concerns about how the EU may become even more efficient, to resume its place at the global stage and, thereby, to secure prosperity for the generations to come.
While the problems of differing belief systems, cultures, and building common political institutions are real and fascinating, what really makes all these problems immensely more difficult right now is that the European elite is trying to impose very regressive and unpopular changes on their citizens.
How are we to explain these differences? The United States was, after all, the epicenter of the world financial crisis and recession in 2008. But U.S policy-makers responded to the recession with different policies. Most important was monetary policy.
We are failing to use all the productive resources available to us and, as a result, over 200 million people are unemployed around the world. On the other hand, we live beyond our natural limits because we use more natural and finite resources than is sustainable. A huge opportunity thus presents itself.
Greece has been a country hit hard by austerity measures, and no city more prominently than Athens. Curious to see how residents in the capital viewed these issues, I walked the streets of Athens and spoke to two locals -- same day and same questions.
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.
The reality is that the "austerity," imposed by elites and governments, has led us to an untenable macroeconomic situation.
Weidmann's "separatist" view clearly stems from the German concept of highly independent central banking, assuring price stability rather than trying to target other problems and ensure macroeconomic stability.
When you manage a foreign company, the image that Europe portrays is different in many respects from what you're used to hearing. The continent is the most important foreign investor in many regions of the world, including South-East Asia.
When residing in the U.S., an aspiring but not yet permanent resident, the first crucial step to acquiring the American-ness I have come to love and d...
As the United States is militarily moving away from the Middle East, it needs a long-term strategy to stabilize the region and for institution building. And as Iran is geopolitically central to the region, they both need to end the deadlock and find a way out of this crisis.
The European Banking crisis is old news. False. The Western European Banking crisis is old news. The crisis in "the banks of Europe" has not been fully covered.
Why, you may ask, did Krugman feel the need to be so bold (and so wrong) in predicting the euro's collapse over and over again, in his column, on his blog and to every media outlet that would give him an interview?
Despite some recent apparent signs of improvement, in the past two years we've had very negative economic news from Europe, particularly from countries such as Spain, Ireland, Greece, Cyprus, Italy, and Portugal. High unemployment, failed banks, fiscal insolvency, and a growing distrust of markets are just a few of the difficulties.