iPhone app iPad app Android phone app Android tablet app

Eurozone

Beyond the Eurocrisis: Is More Democratic Governance the Solution for Europe?

Luka Orešković | Posted 05.23.2013 | Politics
Luka Orešković

If invested with popular legitimacy, Europe's success will depend on balancing it with long-term focused meritocratic governance and avoiding capture by short-term and particular special interests. A middle Way between West and East is indeed necessary.

Regime Change, EU Style

Charles Heck | Posted 05.20.2013 | World
Charles Heck

Think of the eventual incorporation of ten former Communist countries in the years after the end of the Cold War. Think of the incorporation of Portugal, Spain, and Greece growing out of an earlier "Europe"-inspired round of regime change.

Eurozone Recession Now Longest In Currency's History

AP | PAN PYLAS and SARAH DiLORENZO | Posted 05.16.2013 | Business

PARIS -- The eurozone is now in its longest ever recession – a stubborn slump that has surpassed even the calamity that hit the region in the fi...

An Early Greek Spring

Katerina Sokou | Posted 05.14.2013 | World
Katerina Sokou

Crises have a way of doing this to people: They ground them and strengthen their resolve, while they also make them see the flowers between the cracks and draw inspiration from them. And this is all the Greeks can count on, for now.

EU: No End In Sight For Eurozone Recession

AP | RAF CASERT | Posted 05.03.2013 | Business

BRUSSELS — Europe will take longer to recover from its economic crisis as it tackles a worse-than-expected recession in the eurozone and unemplo...

Unlucky Number 13: Is Slovenia Next in Line for a Bailout?

Luka Orešković | Posted 05.02.2013 | Business
Luka Orešković

While some hope of a miracle occurring in the coming months remains, so does the question of whether the new Slovenian government is willing to invest enough political capital to push through the necessary reforms before the capital markets decide to lock Slovenia out once again.

Mark Gongloff

ECB Rate Cut Is Too Little, Too Late

HuffingtonPost.com | Mark Gongloff | Posted 05.02.2013 | Business

European policy makers have rushed to the aid of their lifeless economy, cutting interest rates and promising that more help is on the way. Too bad th...

Europe Is Strangled By Its 3 Percent Budget Deficit Ceiling

Georges Ugeux | Posted 04.30.2013 | Business
Georges Ugeux

By fixing annual budget deficits, Europe is shooting itself in the foot: while it does, of course, authorize lower budget deficits during good years, it makes it impossible to allow further budgetary deficits when the economy is in recession. Europe is in recession.

Looking Ahead: One-Size-Fits-All-Approach Won't Work for EU Debt Crisis

Emmet Oliver | Posted 04.18.2013 | Business
Emmet Oliver

As European bank depositors, bank creditors and bank stockholders look back nervously at what happened recently in Cyprus, there is increasing speculation about what might happen to Slovenia and even some other European countries in relation to bank restructuring.

Gaming Europe's Financial Crisis

Michael Brenner | Posted 04.15.2013 | World
Michael Brenner

The wages of sin -- in the minds of Europe's born again Puritanical elites who observe the caveat that financial elites have a special dispensation from the Heavenly Father who already have squeezed through the eye of the needle.

Italian protest leader Beppe Grillo: "This is a war, and we'll win"

Elisabeth Braw | Posted 04.16.2013 | World
Elisabeth Braw

Previously published in Metro http://www.readmetro.com. Until recently, Beppe Grillo was simply a successful comedian. But these days, the powerful i...

The New York Times Thinks Bleeding Cyprus Is 'Strong Medicine'

William K. Black | Posted 04.09.2013 | Business
William K. Black

Has the New York Times ever had Krugman spend two hours educating its financial reporters about austerity and the euro's design defects? That would be one of the best investments it could ever make in raising the quality of its reportage on these issues.

Europe's Economic Crisis Now Moves Towards Political Crisis

Frank Vogl | Posted 04.04.2013 | World
Frank Vogl

Depositors in all economies in difficulty in Europe should now beware. It is in these countries, which already are in a deep economic slump where the political situation now seems most fraught.

Crafting the Cyprus Deal: A Road Filled With Blunders

David Catalan | Posted 03.31.2013 | Business
David Catalan

The role of the Troika in bailing out governments and banks is nothing new, but the solutions put forward by EU leaders to improve the Cypriot crisis seem to be founded on little foresight, and without regard for the tragic mistakes of the past few years.

The Stalemate in Italy Could Destabilize Europe

Georges Ugeux | Posted 03.28.2013 | Business
Georges Ugeux

With the announcement that the attempts by the Democrats to form a government have been derailed by what the Economist characterizes as two clowns, former Prime Minister Silvio Berlusconi and Beppe Grillo, the situation in Italy gets more dangerous.

The Crisis Isn't Just in Cyprus

Terry Savage | Posted 03.27.2013 | World
Terry Savage

Could it happen here? It's unlikely that in America you'd see that kind of outright grab on the part of the government, for any reason, (unless you think back to the gold confiscation of the 1930s). And in America, we're very aware of our deposit insurance limitations.

3 Ways Cyprus Is a 'Game Changer' for Europe

Gemma Godfrey | Posted 03.27.2013 | Business
Gemma Godfrey

With the Fed likely to remain accommodative, bullish market sentiment may continue to overshadow concerns elsewhere. However, Cyprus has highlighted that we're far from an end to the crisis.

Germany: Europe's Greedy Boss

Justine Frangouli-Argyris | Posted 03.28.2013 | World
Justine Frangouli-Argyris

With their southern partners' economies collapse resulting in these nations being unable to purchase many imported goods, Germany has decided to pursue the only assets left to be had, namely the funds remaining in their banks.

A Superhero's Soft Power Falls Flat (and Wastes an Opportunity)

András Simonyi | Posted 03.25.2013 | World
András Simonyi

Instead of an impotent superhero in spandex lacking legitimate powers or weapons, Europe might call up the likes of Batman and Robin, Green Lantern or Flash to protect its prized democratic peace. So... keep the Euro, fire the Captain.

Mark Gongloff

After Cyprus Bailout Deal, Europe's Problems Worse Than Ever

HuffingtonPost.com | Mark Gongloff | Posted 03.25.2013 | Business

Cyprus may have been saved from disaster, but don't be fooled: Europe is still a hot mess. In the middle of the night on the continent, officials m...

147 People

Richard (RJ) Eskow | Posted 03.25.2013 | Politics
Richard (RJ) Eskow

147 people can change the course of history. Not necessarily the same 147 people, of course. But the small social groups which surround our world's leaders have extraordinary power.

Cyprus -- The Nightmare Scenario

Laurence J. Kotlikoff | Posted 03.24.2013 | World
Laurence J. Kotlikoff

The Cypriot banks did what all banks do. They gambled. They borrowed money by taking in deposits as well as selling bonds, promised to repay, and then invested in assets they were sure would pay off. These assets included lots and lots of Greek government bonds.

Liquidity vs. Stupidity: Two Early Lessons From Cyprus

Jared Bernstein | Posted 05.22.2013 | Business
Jared Bernstein

Didn't someone around the table in Brussels raise their hand and say, "Hey, wait a sec... do we really want to levy this tax on a banking system that's already teetering?"

Be Bullish! Bernanke Has Spoken!

Michael Farr | Posted 03.22.2013 | Business
Michael Farr

On the heel of Cypriot bank-deposit delirium, we suspect that the U.S. central bankers had more than enough concern to hold firm to the seemingly limitless flow of monetary easing.

Can Cyprus's Sacrifice Save the Eurozone?

Justine Frangouli-Argyris | Posted 05.21.2013 | World
Justine Frangouli-Argyris

Will the government opt to raid some state pension or insurance funds that have already been contributing their share by buying up large sums of national bonds? Will the Europeans back down and ultimately agree to some alternative bailout deal that leaves savings untouched?