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Euro Crisis

Populist Death Wish for the Euro Would Plunge France into Depression

Jacques Attali | Posted 07.20.2014 | World
Jacques Attali

"The euro is to blame for everything. Without it, there would be no need for budgetary rigor and growth would return." This is surely the most absurd argument to arise from the nationalist and populist parties campaigning for the European Parliament elections.

Democracy's Conundrum: Reforms Take Time to Mature -- But Voters Want Results Now

Mario Monti | Posted 07.13.2014 | World
Mario Monti

All great reforms must first mature. To be successful, they must be fully understood by society. This process requires time and a lot of explanations. However, the need to obtain the consent of the people must not deter the leaders from their mission, even if it makes them unpopular. As it is written in the American Federalist Papers: "When occasions present themselves, in which the interests of the people are at variance with their inclinations, it is the duty of the persons whom they have appointed to be the guardians of those interests, to withstand the temporary delusion, in order to give them time and opportunity for more cool and sedate reflection (Federalist Papers Nr. 71). What is called "populism" nowadays is not really tantamount to defending the real interests of the people. Rather, it is a political ruse, which consists of using ultra-simplified language that is easily understood by the people, playing on their sense of fear, to conquer power.

What Really Divides Northern and Southern Europe?

Fabrizio Tassinari | Posted 07.08.2014 | World
Fabrizio Tassinari

What distinguishes the two halves of Europe, argues political scientist Francis Fukuyama, is the presence, in the North, of a "political coalition protecting the autonomy of the bureaucracy." Here civil service is largely perceived as impartial and entrusted with providing continuity to policymaking. Governance failures in Southern Europe, on the other hand, are inextricably tied to more or less pervasive forms of clientelism, which buries merit and frustrates reforms.

Nobel Laureates Amartya Sen And Joe Stiglitz Reject Embrace By Anti-Europe Populists

The WorldPost | Nathan Gardels | Posted 06.11.2014 | World

480504621 In the run up to the European parliamentary elections next month, anti-Europe populists, such as Marine Le Pen's National Front in France, have been fanning the nationalist flames by telling voters that two leading left-of center Nobel laureates in economics -- Amartya Sen and Joe Stiglitz -- oppose a more united Europe.

Euro Heretics: The Left Takes on the Euro

David Adler | Posted 02.18.2014 | Money
David Adler

The euro has happened. But is it a bad idea? Will it last? Despite the reality of the full-blown depressions in Southern Europe and pauperization of the middle and working classes there, European economists have not changed their tune.

When Breaking News Is Only Headlines: Germany, the European Union and the U.S.

Edward Goldberg | Posted 11.25.2013 | Politics
Edward Goldberg

Of all this week's international news -- the horrors in Kenya, Rouhani at the UN, the negotiations over Syria -- it is what some might call 'the boring German election' that will have the greatest long-term impact on the interests of the United States.

A Finance Minister Who Helped Start The Euro Now Wants To Abandon It

AP | Posted 07.06.2013 | Business

BERLIN — The leftwing opposition politician who was Germany's finance minister when the euro was adopted says it's time to think about abandonin...

LOOK: Thousands Rally Against European Austerity In May Day Protests

Reuters | Posted 07.01.2013 | World

By Clare Kane MADRID, May 1 (Reuters) - Workers hit by lower living standards and record high unemployment staged May Day protests a...

Europe Faces New Political Reality at Harvard

Lisa De Bode | Posted 05.05.2013 | World
Lisa De Bode

There is no one European identity, no one voice that speaks for the myriad of countries that make up the EU. Before increased monetary and fiscal integration can take place, European leaders need to focus on enhancing their political union.

'We Have The Worst Behind Us'

AP | Posted 12.27.2012 | Business

BERLIN -- Germany's finance minister says the worst of euro area's debt crisis appears to be over after three years of worries over Greece and other m...

Euro Zone Reaches Greek Debt Deal

Reuters | Posted 01.26.2013 | Business

* EU-IMF agree on cutting Greek debt-to-GDP level * Aim is to reduce Greek debt to 124 percent of GDP by 2020 * Interest...

Mr. Draghi's Dangerous Confidence Game

Laurence J. Kotlikoff | Posted 01.08.2013 | Money
Laurence J. Kotlikoff

European Central Bank (ECB) Chairman Draghi has a very big agenda. Armed with only a printing press, he's pledging to directly bail out the GIIPS (Greece, Italy, Ireland, Portugal and Spain) and indirectly bail out their economies.

Eurozone Debt Grows To Insane Level

Reuters | Posted 12.24.2012 | Business

By Jan Strupczewski BRUSSELS, Oct 24 (Reuters) - Euro zone government debt rose to 90 percent of the single currency area's gross domestic produ...

'We're No Longer Seen As Second-Class Citizens'

Reuters | Posted 12.14.2012 | Business

* Italian, Spanish bond yields are the new "fear index" * Politicians and public learn the bond market vocabulary ...

Money Printing Trumps Fundamentals

Michael Pento | Posted 12.09.2012 | Business
Michael Pento

Stock markets around the world continue to levitate despite the fact that the fundamentals behind the global economy continue to deteriorate. But that weak and worsening economic data didn't stop investors from sending stocks higher.

Saving the Euro and the EU: Can Europe Do It?

Haider Khan | Posted 12.03.2012 | College
Haider Khan

With the continuous outpouring of bleak economic data from the EU, many are expressing deep pessimism bordering on despair about the prospects for the sustainability of the monetary union.

Report: Greece Saved From Imminent Bankruptcy

Reuters | Posted 10.03.2012 | Business

BERLIN, Aug 4 (Reuters) - The European Central Bank (ECB) has saved Greece from bankruptcy for the time being by securing it interim financing in th...

Euro Crisis: The German Approach Is at Least Partially Correct

Steven Strauss | Posted 09.21.2012 | World
Steven Strauss

Aside from the risk to the German taxpayers, a failure to come out of this crisis with real reforms sets the stage for an even bigger debacle at a later date. The Germans deserve commendation for their commitment to a united Europe.

PHOTOS: An Abandoned Airport

Posted 07.12.2012 | Travel

Ciudad Real International Airport in central Spain opened in 2009 to much hype and fanfare. The airport, which was meant to handle overflow from Madri...

Euro Leaders Agree To Spain Bailout Terms

Reuters | Posted 09.08.2012 | Business

By Robin Emmott and Francesca Landini BRUSSELS, July 10 (Reuters) - Euro zone ministers agreed early on Tuesday to grant Spain an extr...

Young Job Seekers Struggle Across Europe

AP | Paul Wiseman and David McHugh | Posted 07.09.2012 | Money

BRUSSELS — Irene Fernandez lost her job with Spain's postal service five months ago, a victim of government spending cuts. Since then, she's been ge...

German Parliament Approves Euro Bailout

Reuters | Posted 08.29.2012 | Business

By Gareth Jones and Stephen Brown BERLIN, June 29 (Reuters) - Germany's parliament resoundingly approved the euro zone's p...

European Officials Try To Make Germany More Comfortable With Euro Integration

AP | TOBY STERLING and DON MELVIN | Posted 08.26.2012 | Business

BRUSSELS — Top European officials have called on countries that use the euro to surrender more control over their national budgets, a move appar...

Procrastination Is Costly, Action Is Priceless

Otaviano Canuto | Posted 08.25.2012 | World
Otaviano Canuto

Haven't similar experiences in the debt crises of the 1980's, Russia in 1998, and Argentina in 2001 taught us that waiting too long to restructure in situations of clear insolvency can be more costly in the end?

Now Power Traders Are Halting Electricity Exports To Greece

Reuters | Posted 08.22.2012 | Business

* Greek power prices double due to lower imports, hot weather * Tourism season coming By Karolin Schaps and Tsvetelia T...