Greece’s Surprise “No” Vote a Big Defeat for Europe
Two points to grasp about the Greek electorate’s rejection of Europe’s bailout terms in Sunday’s referendum: • Greeks scored a victory for themselves and all Europeans who think the democratic process must stand as the European Union’s paramount principle. •…
Markets Fear the End Game for Greece as IMF Gives Ukraine a Free Pass
Until a few days ago, the Greek and Ukrainian debt crises looked like twins: Two sovereigns with immense debts, creditors at their throats, looming deadlines, and deep fiscal and economic problems. One of the biggest guns among the creditors is…
Why Ukraine Will Get Its Debt Restructured
Push is quickly coming to shove over Ukraine’s $35 billion in government debt, $23 billion of which must be either paid or restructured in June. This is a must-watch for its wider implications. The question is stark: Who is going…
The Abe-Obama Trans-Pacific Trade Deal Is in Trouble
The Trans-Pacific Partnership, until recently background noise for many Americans, is about to become another field of battle in Washington. As of last week, when Japanese Prime Minister Shinzo Abe concluded an unusually long state visit, we’re on notice: This…
Why Greece Should Consider a Eurozone ‘Grexit’
Slower than a roller coaster but faster than a glacier, Europe advances toward a denouement on the Greek questions—and there are several at this point. Fearful of the answers, Europeans are doing what they seem to do best, which is…
China’s New Development Bank: How Obama Blew It in the Pacific (Again)
When China launched a new multilateral lending institution last October amid fanfare in the Great Hall of the People, the Obama administration had already spent many months opposing it. It urged Beijing not to go forward; then it lobbied allies…
For Greece Now, It’s Political and Economic Mess
There’s nothing wrong with buying time if that’s your need. And Greece’s daring new finance minister Yanis Varoufakis got some when he struck a deal in Brussels Friday to extend the European Union’s bailout for four months. The markets greeted…
Saving Ukraine: Why the IMF’s Bailout May not Work
Could last week’s ceasefire in Ukraine, announced in Minsk Thursday after 17 hours of negotiation, have been any more dramatic? The German and French leaders, who presided in the Belarus capital, leapt into 11th hour action when Washington disclosed it…
First Greece, Now Spain: Is Europe in for a Political Earthquake?
It took a mere six days for the election victory of the anti-austerity Syriza party in Greece to start ricocheting around Europe like a stray bullet in a concrete bunker. And already the fight between northern Europe’s austerians and their…
Greeks See Light at the End of the Austerity Tunnel
A decisive vote for Syriza and its left-leaning leader, Tsipras A chunk of Draghi’s $1.23 trillion stimulus will go to Greece Time to book a trip—the euro is now $1.11 In a single week, we witnessed these events: Mario Draghi…
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