Today, the ECB announced that, as speculated by the markets, it would purchase bonds of Italy and Spain, in order to reduce financing costs. Yet, the markets were disappointed. There are three reasons why this disappointment was almost predictable.
Another day, another central bank failure.
OK, I get it now. Convincing the public to help with economic recovery requires the promise of immediate gratification -- beyond the threat of imminent economic armageddon. This could be huge for worldwide tourism industry.
Enough is enough. Let's demand a stop to all austerity policies until our leaders promise to end offshore tax abuse. And if they won't, let's elect leaders this November who will.
It is not a secret among these in the know that Greece could and should develop its information technology sector: Greece's strength is Greek human talent, namely its talented engineers.
What Spain needs is simple. To become Buddhist Spain. Not in terms of religion. But in terms of economic planning and education for coming generations.
If financially wayward countries such as Greece and Spain are to get back on the path of economic growth, they do have at least one arrow left in the quiver -- leaving the euro.
Former British diplomat Carne Ross doesn't know why we're spending so much time following the presidential campaigns. "We have been led to believe that one little vote every few years is meaningful when I think intuitively, secretly we know it's meaningless," he says.
The Greek crisis could have been avoided. Indeed, all that was necessary would simply have been for the European Central Bank to grant the necessary loans directly to Athens at the same rate of interest it charges when lending to private banks.
This will be a century of transformative change. However, in spite of change, my faith and confidence in the capacity of good people, within great organizations whether in the public, private or nonprofit domain, to remain true to their mission for the benefit of society remains undiminished.
Over the last two months, I have spoken with more than 200 economists, CEOs and policy makers from almost every industry and every corner of the world.
Stimulus junkies actually took heart from the weak economic news, expecting it would spur the Fed to further action. Ultimately, though, this bad-news-is-good-news philosophy doesn't help the economy.
The trade differentials in the eurozone are not in the least an insurmountable problem, at least not in theory.
A couple of weeks ago European leaders held another all-night pajama party, staggering out into the morning light to proclaim that they had reached yet another game-changing agreement.
The effect the European debt crisis will have is a matter of degrees and exposure. It's hard to discern how these unfortunate events will affect us and what actions we should take. In other words, what do we have control over and when are we just being reactive?
All European countries find themselves confronted with debt problems that impact sustainable public finances. The crisis has not spared France, the world's fifth largest economic power, something that makes private banks quite happy.