iOS app Android app

Eurozone

Debt Forgiveness Is Inevitable and Will Save the Euro

Elena Panaritis | Posted 02.05.2013 | World
Elena Panaritis

Austerity has made it difficult for Greece to meet its fiscal targets, as well as its structural reforms. This is why anything short of debt forgiveness and more bailout funds is only a way for Europe to buy a little bit of time but at a huge price.

Oslo Peace Prize Ceremonies Are Turning Point for Europe

Nathan Gardels | Posted 02.02.2013 | World
Nathan Gardels

Symbolically, the Oslo ceremonies are an historical turning point for Europe. By recognizing the European Union's peacemaking past, the Nobel Prize challenges Europe to escape once and for all the destructive pull of narrow national interests and passions.

Europe Is Divided Again -- This Time It's Creditors vs. Debtors

George Soros | Posted 01.30.2013 | World
George Soros

When the European Union was only an idea, a fantastic object, it was conceived as an instrument of solidarity. Today, Europe hangs together out of grim necessity. That is not conducive to a harmonious partnership.

The Politics of Fear

George Papandreou | Posted 01.29.2013 | World
George Papandreou

My recent experience in dealing with the financial crisis in Greece and in Europe has confirmed my belief that this is a political crisis more than a financial one. In trying to confront its fiscal deficit, Europe has run up a democratic deficit.

Theory and Reality in Europe

David Backus | Posted 01.29.2013 | World
David Backus

David Cameron suggested the European Union headquarters in Brussels "continues to exist as if in a parallel universe," in part because its idea of austerity is to increase the workweek from 37.5 hours to 40. How can we possibly make sense of all this?

Euphoria In Greece As EU, IMF Agree To Release Loans

www.guardian.co.uk | Posted 11.28.2012 | World

After months of drama in the eurozone and its own solvency hanging by a thread, Greece reacted with euphoria on Tuesday at the news that international...

Ricardo Caballero: "Greece Is in Rehab"

Vaios Papanagnou | Posted 01.28.2013 | World
Vaios Papanagnou

"This was clear from the beginning, and it remains clear. It is up to Greece and its Europeans partners to decide how to structure and spread over time this default."

The Turkish Economy Meets EU Entry Criteria

Recep Tayyip Erdogan | Posted 01.28.2013 | World
Recep Tayyip Erdogan

Turkey today is strong and resilient. But there is more to be done to improve our performance and build proactively on this foundation.

For a Revival of Philhellenism

Bernard-Henri Lévy | Posted 11.27.2012 | World
Bernard-Henri Lévy

What if, as is incessantly threatened, Greece ultimately ends up pulling out of Europe? Everyone can always get out of everything, naturally. The Greeks themselves, blinded by bad shepherds or by their own populist passion, can decide to take this headlong escape.

Lesson From Germany: If You Want a Middle Class, Keep Your Industrial Base

Gerhard Schroeder | Posted 01.27.2013 | World
Gerhard Schroeder

Europe is at a crossroads. The wider European Union needs to decide whether to promote growth, speak with a common voice on global issues and play a significant global role in the 21st century -- or to accept that the world will move on without Europe.

The Money Is Gone, the War Is Over

The European Magazine | Posted 01.26.2013 | World
The European Magazine

Who cares about why and how Greece entered the eurozone? Who cares about state accountants tip-tapping on Excel fifteen years ago? Does this discussion make tomorrow's solutions more likely?

It's Time for the Direct Election of a European President

Tony Blair | Posted 01.26.2013 | World
Tony Blair

I shall resist the temptation of being the Brit outside the euro trying to tell everyone inside why it was a bad idea. First, because I don't think it is a bad idea. In principle, a single currency along with a single market makes sense for Europe. Second, because in any event, we are where we are.

Economic Crisis Spreads in Spain

Neil Parmar | Posted 01.21.2013 | World
Neil Parmar

Workers across southern Europe took to the streets last week to protest the region's growing unemployment and government spending cuts.

Greece Is at the Crossroads With the IMF in Tow

Elena Panaritis | Posted 01.20.2013 | World
Elena Panaritis

While Greeks need to do more internally to help themselves, the IMF's modus operandi should also change and go back to its basics so that Greece does not become another loan addict, but an economic success story.

Greek Parliament Approves 2013 Austerity Budget

AP | DEMETRIS NELLAS and ELENA BECATOROS | Posted 01.11.2013 | World

ATHENS, Greece -- Greek lawmakers approved the country's 2013 austerity budget early Monday, an essential step in Greece's efforts to persuade its int...

Merkel: 'Ambitious Roadmap' Needed To Save Eurozone

Reuters | Posted 01.07.2013 | Business

BRUSSELS, Nov 7 (Reuters) - German Chancellor Angela Merkel called on fellow European leaders on Wednesday to agree an ambitious, concrete plan for ...

Europe Just Had A Terrible Month

Reuters | Posted 01.23.2014 | Business

* Euro zone composite PMI sinks to 45.7 in Oct * Headline index at lowest since June 2009 * Services PMI also falls slig...

Enough With the Globalization Hype

Rajan Menon | Posted 01.23.2014 | College
Rajan Menon

There's no question that students need to learn more about the world beyond than ever before. But the notion that they haven't been doing so, or that they wouldn't were it not for the globalization brigades' enlightenment campaigns, is nonsense.

Why European Airlines Will Pay Passengers For Late Flights

Kate Hanni | Posted 12.31.2012 | Travel
Kate Hanni

Passengers are often placated with vouchers for a free meal or a refreshment when they are legally entitled to more significant reimbursement.

Eurozone's Hits Sad Milestone

AP | PAN PYLAS | Posted 12.31.2012 | Business

LONDON (AP) — Unemployment in the 17-country eurozone hit a record high of 11.6 percent in September, official figures showed Wednesday, a sign the ...

The Myth of the Exploding Welfare State

The European Magazine | Posted 12.29.2012 | World
The European Magazine

Public debt has become the main argument against the welfare state. But the two are barely related.

Sending Scientists to Prison Helps Explain Why the Italian Economy Is in Trouble

Sheldon Filger | Posted 12.25.2012 | World
Sheldon Filger

How ironic it is that financial oligarchs and their enablers in public office can escape accountability for their role in the greatest financial catastrophe since the Great Depression, while scientific researchers are sent to prison for lacking divine prescience?

Shifting Tectonic Plates Under Global Banking

Otaviano Canuto | Posted 12.24.2012 | World
Otaviano Canuto

The global financial crisis has reversed an expansionary trend of international activities by banks from advanced countries that had been at play for decades.

A Conversation With Noam Chomsky

Michael Nevradakis | Posted 12.22.2012 | World
Michael Nevradakis

Noam Chomsky, who in six decades of teaching, writing, and activism, has not hesitated to express his opinion on such matters, takes a different view than others towards Greece.

Is the World Economy Turning a Corner?

John Bowler | Posted 12.19.2012 | Business
John Bowler

We expect the global economy to expand by only 2.2% at market exchange rates in 2012, and by 3.1% at purchasing power parity (PPP) rates. Although next year will be better, we forecast a recovery only to 2.5% and 3.5%.