At Last, a Smart Life-Saving Plan for Europe
Whatever it takes” seems to have acquired a totemic meaning among the world’s central bankers. It has long been among the favored market-calming phrases uttered by Ben Bernanke, chairman of the U.S. Federal Reserve. Now Mario Draghi, head of the…
Europe’s Juggling Act: Cuts, Tax Hikes, Bailouts
On the face of it, last week did not look like a very good one for Europe—not if you think it is time to push growth as well as fiscal discipline. Just days after Spain announced a $79 billion package…
China’s ‘Command Economy’ Rebound Depends on Jobs
Western observers are more nervous about China’s economic slump than the Chinese seem to be. We have had a raft of first-half numbers from Beijing over the past week or so as Prime Minister Wen Jiabao toured several eastern and…
Easy Money Won’t Cure EU’s “Contained Depression”
The earth’s core was exposed this week – it’s called the world’s central banks. The European Central Bank, the People’s Bank of China and the Bank of England all unveiled easier monetary policies of one kind or another. Denmark, which…
How the EU Got Its Mojo Back–19 Summits Later
LONDON— By my count it took 19 European Union summits since the Greek economy began to crack three years ago, but EU leaders have finally finished dithering. At the summit in Brussels last week, we can now look forward to…
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