The Two Ukraines Portend a Disastrous Possibility
In less than a week, the simmering crisis in Ukraine has tipped into tragedy and tumbled straight down to existential calamity. As Viktor Yanukovych fled Saturday from the presidential compound in Kiev to a hotel room in the eastern city…
How the White House Is Blowing Off Europe
The Obama administration needs to declare a “pivot to Europe” policy, and quickly. Not that the famous pivot to Asia has amounted to much: It drifts somewhere in the Pacific like a dead fish. But relations between the U.S. and…
Europe’s ‘Ogre of Deflation’ Is Rapping at the Door
All eyes on the European Central Bank this week. Its Governing Council meets Thursday in Frankfurt, and ECB President Mario “Whatever It Takes” Draghi will have to announce an historic interest rate cut if he is to earn his middle…
Why the Global Economy Could Go Off the Rails in 2014
You do not have to go far to hear that financial hard times are over in 2014. But no one looking around the global economy could possibly miss the work still undone. Some see potholes deep enough to send the…
The Dark Cloud over Europe’s Nascent Recovery
Europe seems to be right on time—for once. The comforting consensus a year ago was that the crisis gripping the European Union since 2009 would begin to fade in the third quarter of this year. And here we are: •…
The Global Economy Takes a Baby Step Forward
It’s starting to look like that longed-for moment many of us thought would never arrive. Economies around the world have just clocked in with some good news. How shall we read it? It is too soon to declare we have…
How the Spooks Will Sink the Trade Pact with Europe
It is supposed to be the largest trade agreement ever forged between two countries. But the Trans–Atlantic Trade and Investment Partnership never looked promising. And now that the US and Europe have completed a first round of talks, it is…
Post-Austerity Europe Gropes for a Game Plan
In Spain, King Juan Carlos proposes to give up his 136–foot yacht (although there is bickering over who should get it). In France, President Francois Hollande just raised $390,000 by selling 1,200 bottles of wine from the Élysée Palace cellars…
Has Britain Gone to Pieces Over Exiting the EU?
David Cameron, Britain’s Conservative prime minister, has been bullied on the question of European Union membership. Hard-right Tories (and there are a lot of them) and aonce-marginal independence party now contrive to bring Britain to the brink of exiting the…
As Europe Turns Left, a Call to “Show Me the Money”
We will die of fiscal consolidation alone,” Enrico Letta, Italy’s new prime minister, said in his maiden speech to parliament a few days ago. “Growth policies cannot wait any longer.” The anti-austerity argument in Europe has quickly achieved respectability. Letta…
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