iOS app Android app

Europe Economy

Trade Deals from Hell

Robert Kuttner | Posted 10.24.2014 | Politics
Robert Kuttner

The latest reports from Europe indicate that the continent is slipping back into recession. The U.S. is doing only slightly better, with positive economic growth but scant progress on the jobs front, and no growth in the earnings of the vast majority of Americans. Meanwhile, global climate change continues to worsen, producing unprecedented policy conundrums of how to reconcile the very survival of the planet with improved living standards for the world's impoverished billions and for most Americans, whose real incomes have declined since the year 2000. Amid all of these serious challenges, what common strategies are top U.S. and European leaders pursuing? Why, a new trade and investment deal modeled on NAFTA, to make it harder for governments to regulate capitalism.

In Greece, Orthodox Priest Buys Inmates Their Freedom

AP | COSTAS KANTOURIS | Posted 08.10.2014 | Religion

THESSALONIKI, Greece (AP) — Germany made headlines this week by letting Bernie Ecclestone, the Formula One chief, pay $100 million to end his briber...

Germany Has the Most Unequal Distribution of Wealth in the Eurozone

Nicolas Berggruen | Posted 09.27.2014 | World
Nicolas Berggruen

Germany has the most unequal distribution of wealth in the eurozone. In this sense, Germany faces the same challenge as China: a high-export and saving economy which needs to rebalance through policies that create a greater flow of wealth to households, thus spurring greater consumption. This, in turn, can create demand for imports from Germany's European neighbors.

Will Russia Sanctions Push Europe Back into Recession?

Mohamed A. El-Erian | Posted 05.27.2014 | World
Mohamed A. El-Erian

Around 40 percent of Russia's trade is with Western Europe. Even if Russia fails to retaliate by itself imposing counter-sanctions -- an unrealistic assumption -- its weaker economy would quickly translate into lower sales by Western European companies to the world's eighth largest economy, as well as less certain input supplies from there.

Europe Needs A Road Map -- Or It Will Go Backwards

Nicolas Berggruen | Posted 04.29.2014 | World
Nicolas Berggruen

The paradox of this historical moment is that we see across the world -- in Ukraine, Egypt, Thailand, Turkey -- that elections in and of themselves are not the standard of legitimacy. Only strong institutions can sustain democracy. But institutions alone without democratic legitimacy conferred upon them, as we see in the European Union, are also not sustainable.

Change Europe to Save It

Carlos Carnicero Urabayen | Posted 03.23.2014 | World
Carlos Carnicero Urabayen

For too many Europeans the EU has moved far quicker to inject public money into troubled banks than to tackle urgent social issues, such as youth unemployment.

Unemployed Frenchman Lands A Job After Plastering Billboard With CV

Posted 01.23.2014 | World

In what sounds like the plot of a feel-good holiday movie, Frenchman Laurent Le Bret finally found a job in a highly unusual way. The 41-year-old L...

Greece Shuts Down As Thousands Protest Austerity

AP | ELENA BECATOROS | Posted 11.06.2013 | World

ATHENS, Greece -- ATHENS, Greece (AP) — Services across Greece shut down Wednesday as unions staged a 24-hour general strike and held peaceful demon...

France, Spain Struggling To Reduce Deficit

Agence France Presse | | Posted 01.23.2014 | World

France will miss an agreed target to cut its public deficit, the EU said on Tuesday, with Spain's battered economy showing few signs of catching up re...

How Do Those Germans Do It and What Does it Mean for the U.S.?

Jared Bernstein | Posted 01.23.2014 | Business
Jared Bernstein

Paul Krugman has a piece up today about how Germany's large and persistent trade surpluses play an important, destructive role in the slump in the rest of the Euro area -- essentially, they import much-needed labor demand from the rest of the zone.

Major Threat To Europe's Economic Recovery

AP | JORGE SAINZ and LORI HINNANT | Posted 12.08.2013 | World

PARIS — PARIS (AP) — Andrea Ortiz, a 24-year-old Spaniard, has degrees in law and business and works in a multinational clothing company — a...

5 Reasons Not To Get Excited About The Eurozone Recession's 'End'

The Huffington Post | Mark Gongloff | Posted 08.14.2013 | Business

One quarter of positive GDP does not a recovery make. Europe's gross domestic product grew 0.3 percent in the second quarter from the quarter befor...

The Answer to Unemployment Is More Europe Not Less

Vivian Norris | Posted 07.29.2013 | Business
Vivian Norris

Beyond more focused EU spending is also the responsibility of business to help bring down youth unemployment by showing what they have to offer Europe in order to make the transition from school to work flow more smoothly.

Powerful Body Casts Dire Warning

AP | GREG KELLER | Posted 07.29.2013 | Business

PARIS — The recession in Europe risks hurting the world's economic recovery, a leading international body warned Wednesday. In its half-yearly ...

'Shame On Europe For Trying To Snatch People's Savings'

AP | By MENELAOS HADJICOSTIS | Posted 05.30.2013 | Business

NICOSIA, Cyprus (AP) — The moment word broke that Cypriot lawmakers in Parliament had voted down a bailout deal that would have raided everyone's sa...

What You Should Know About the Cyprus Controversy

Mohamed A. El-Erian | Posted 05.17.2013 | World
Mohamed A. El-Erian

On Saturday, European officials stunned Cypriots (and many others) by announcing a rescue package for their country that involves a levy on all bank deposits. The news is spreading far and wide, causing quite a bit of controversy in the process.

Eurozone Gets Some Good News

AP | By PAN PYLAS | Posted 04.03.2013 | Business

LONDON (AP) — Mention it quietly, but there were rare hopeful signs for Europe's struggling economy on Friday. Three pieces of econom...

A Famous Victory

Robert Zevin | Posted 03.24.2013 | Business
Robert Zevin

The curtain has come down after Act I of the Fiscal Cliff. Some critics have proclaimed it a victory for the president over his Republican enemies. If it was a victory, it was an expensive one.

Germany, France To Boost Economic Ties

AP | GEIR MOULSON | Posted 03.24.2013 | World

BERLIN — Germany and France will produce joint proposals on improving economic coordination in the European Union this spring, the countries' le...

From Growth Compression to Reflation: The Road Ahead

Jay Pelosky | Posted 01.28.2013 | Business
Jay Pelosky

The Great Compression will give way to the Great Reflation, not next month or next quarter but at some point over the next 12 to 24 months. How this is done will make all the difference -- via beggar-thy-neighbor policies or internal, pro-growth policy implementation?

Bad News For European Bankers

Reuters | John O'Donnell | Posted 11.11.2012 | Business

BRUSSELS (Reuters) - European Union countries will consider a proposal this week for an absolute cap on the total bonus paid to bankers, EU officials ...

Stocks Plunge As Europe Reveals Bad Economic News

Reuters | Posted 11.07.2012 | Business

* Energy shares weak after election result * Investors turn focus to looming fiscal cliff * Indexes off:...

Europe's Agony Could Become Our Future Under Mitt Romney

Richard (RJ) Eskow | Posted 12.25.2012 | Politics
Richard (RJ) Eskow

It takes a blind eye for history and a deaf ear for economics not to understand that Europe's agonies could soon become our own. And let's not forget: as bad as things are in Europe, they can always get worse.

Europeans On EU's Nobel Peace Prize: 'Is This A Joke?'

Reuters | Posted 12.12.2012 | Business

By Karolina Tagaris ATHENS, Oct 12 (Reuters) - "Is this a joke?" said Chrisoula Panagiotidi, 36, an Athens beautician, laughing derisi...

The Austerity Trap: Is Past Prologue?

Michael S. Lofgren | Posted 12.11.2012 | World
Michael S. Lofgren

Predictably, the unemployment rate rises above 25 percent, riots and demonstrations ensue, and an extreme right-wing party rapidly gains adherents. What this will mean for Europe's political future is unclear.