If Greece leaves Europe, the EU dream will be gone for good. Second, other European countries like Portugal, Spain and Ireland, also under the humiliations of debt, might imitate Greece and exit the EU. It's in the political interests of the U.S. to intervene decisively and prevent the break up of the Western world.
The first thing to know is that nobody should sell or buy a lot of US stocks or bonds because of the unfolding late-inning melodrama between the new g...
The fiscal adjustment we have accomplished was done much less through reform, i.e. reorganizing the management of our country, public sector and economy, and more through cuts and taxes. However this has placed an inordinate burden on the middle class, it has created an army of young unemployed and many households are under the poverty line.
Any politician opting this evening for the continuation of the Greek Austerity program should be aware of these facts and try finding a more viable and less amateurish solution for the future not only of Greece but of the entire Eurozone.
I believe Yanis Varoufakis represents the grounded, value-based intellectual of a leader who has what it takes to survive the relentless demands for transparency in today's environment of global connectivity.
Every day brings more headlines in the European debt drama: "Greece elects anti-austerity government." "Greek Finance Minister says he won't negotiate with the 'Troika.'" "Anti-austerity movements gain ground across Europe." What's behind these stories? What does the future hold? Are there any implications for the U.S.? Here's an overview of the situation as it currently stands.
Over the past few months, protests have erupted in the halls of the U.S. Capital, and in the streets outside, to thwart the passing of the Trans-Pacific Partnership (TPP)--a boon to corporate interests, the protesters argue, and an anathema to U.S workers.
Scapegoating the EU for not pardoning or easing terms on debt, accusing minorities of tax fraud and ramping up government expenses are surely not part of the road to resolution.
IMF calls for end to fossil fuel subsidies; PLUS: Some good news: fracking banned in Scotland, and great 'Fox News' for a change!... All that and more in today's Green News Report!
We are a proud and hard-working people who saw our lives change abruptly, with the introduction of strict austerity measures. The new Prime Minister is promising to change all that.
Many are voicing surprise at the comments of IMF head Christine Lagarde following the death of the Saudi monarch. We see here the emptiness of a shallow diversity that seeks to put a woman in a prominent position while maintaining incredibly oppressive power dynamics.
The adoption of the IMF reforms by the United States Congress would send a long overdue signal to rapidly growing emerging economies that the world counts on their voices, and their resources, to find global solutions to global problems.
On the one hand, major economies are benefiting from the decline in the price of oil. On the other, in many parts of the world, lower long-run prospects adversely affect demand, resulting in a strong undertow.
As with the United States, the massive size of the Chinese economy means that lower GDP growth rates create a headwind for the global economy as a whole. It is therefore no surprise that the International Monetary Fund has just revised its forecast of global economic growth downward by the most substantial margin in three years.
In essence, the reforms have been crafted to democratize the IMF governance. Now, those sitting at the head of the IMF's table are either American allies, or its Western partners, whereas the developing countries are underrepresented as a whole. They do not have a say in the IMF decision-making process, or in protection of their fundamental interests.
A nasty strain of austerity capitalism has taken over Europe, leaving broken lives in its wake. Researchers Servaas Storm and C.W.M. Naastepad consider how things got so bad, what role economists and misguided policy-makers have played, and how to change course.