Europe’s Deal with Greece Nearly Splits the Eurozone
Leaders of the eurozone nations put Greeks and other Europeans on urgent notice at a hastily called summit in Brussels late Sunday evening: The group worked through the night and agreed to a new $100 billion bailout with serious reforms…
Why the E.U. Will Cut a Deal With Greece This Week
You have to be a horseplayer now that the Greek crisis is about to pop: Like any savvy handicapper you hold your main bet in your hand but keep a saver in your pocket. When a European Union summit gathers…
A New Leader Could Lift Greece—and Europe—Out of Crisis
Monday’s parliamentary vote could signal an end to austerity The social-democrats want to solve the humanitarian crisis first Then stimulate the economy and bring jobs back to Greece It’s all eyes on Athens this week. There have been many significant…
Ukraine Starts Its March to Free-Market Capitalism
Ukraine watchers, to say nothing of Ukrainians, had better fasten their seatbelts. The passage of a former Soviet republic to free-market capitalism is about to begin. None of the players involved in this transition — the Poroshenko government in Kiev,…
As Deflation Looms, It’s Europe’s Moment of Truth
Europe is in trouble… Again. This time, Europe is on the brink of disastrous trouble. This, unfortunately, seems to be news not yet delivered to many European Union technocrats—in particular, many Germans. It starts to look reckless for policy makers…
The Eurozone’s So-Called Recovery Is a Bust
It’s almost a year since the eurozone was supposed to enter recovery mode. But you can’t eat statistics, as people in the southern-rim crisis nations have learned. Even now, the laser-thin growth numbers sustaining the “austerity works” argument are evaporating….
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: •…
EU Budget Brawl Follows Its Failed Summit
Europe will get its multi-year budget passed–and that’s a “shave my moustache” prediction—in spite of the fact that the European Union failed to reach a budget agreement at a summit in Brussels last week. We do not know the timetable…
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