A breakdown of the European bailout program might make a Greek exit from the euro ("Grexit") the only feasible option. And the popular revolt against outsiders dictating economic policy creates a huge new roadblock to attempts to expand Brussels' power over EU members.
The recently released report from the McKinsey Global Institute on global debt is an important, and sobering, look at how little the world appears to have learned from the Global Recession, and just how dangerous levels of sovereign and consumer debt have become in the interim.
Greece has been suffering from high levels of unemployment, and the standard of living has dropped precipitously, as a direct result of the cuts in government programs mandated by the EU and the IMF. The EU should have predicted this result: This was the great unlearned lesson from the experience of East-Central Europe over the last 25 years.
Last summer, cellist Dane Johansen hiked 580 miles across the northern rim of Spain. His plan was to record the Bach Cello Suites in the churches that line the ancient pilgrimage route known as the Camino de Santiago and turn the experience into a documentary.
ATHENS -- The strong mandate he got from the polls, has put a burden on Mr. Tsipras to fulfill the great expectations he produced. If he succeeds, the Spanish Podemos, the French Front National and Italy's Bepe Grillo could all follow suit and question Berlin's fiscal orthodoxy. The much feared domino effect set off by Greece at the outset of euro crisis in 2010 could now materialize in another way.
For all the media frenzy, the complacency of economists, the trumpets announcing a new era, Europe does not want to understand the basic situation it is in. Finance cannot bail Europe out. Only a profound transformation of a regime it cannot sustain will rescue it. Will we need Italy to collapse or another major banking crisis to wake Brussels up?
So how could a tiny party created a year ago become a major player? Corruption is part of the explanation. Podemos' surge followed a string of high-profile scandals enmeshing members of the two main parties.
Travelers to Europe often rave about how great it is getting around via trains. Though there is no doubt that this is one the fastest and most efficient ways to travel the continent, my preference is keeping it old school with a nice, laid-back road trip.
Sahwaris haven't had much to celebrate since 1976 when 80% of their country was gobbled up by Morocco after the former colonial power Spain was driven out following many decades of a war of independence waged by Sahwaris, traditional nomads.
Did you breathe enough in when you were worrying about tests? Did you make enough friends with neighbors? Did your Spanish really get any better?
A Greek exit from the Eurozone could be catastrophic. The country would be shunned from international markets, with a new/old currency that would devalue severely. Nevertheless, the bigger risk for investors is that the turmoil spreads to larger neighboring countries.
Are you a been-there-done-that kind of traveler? If so, let's see if you can tag these eight stunning tourism attractions around the world, including a number well off the beaten track.
A bull shark emptied Australia's Bondi Beach of people for nearly two hours on Friday, and had its 15 minutes of fame. But by Saturday, it had all but been forgotten in favor of a different breed of shark.
1.) The Mediterranean coast is paradise Spain's long, sandy Atlantic beaches and cozy Mediterranean coves are rightly famous throughout Europe....
Buena Vista Images via Getty Images With our ever-expanding bucket lists, it's sometimes easy to lose sight of the essentials. Well, we've gone t...
What we've been witnessing is the decline of state-society relations in which citizens no longer believe in their leaders, governments or certain policies -- and they are speaking out in violent and non-violent ways. There's a recurring feeling that there must be a better, more legitimate way to govern.