EU Crisis: Protect the Euro or Ensure Stability?
Most of us thought the crisis in Europe had to do with holding the euro together. It is not so simple after last week’s tumult—in Greece, in Portugal, in Spain, even in Germany. What is at issue now is not…
As Merkel Goes, So Goes the European Union
The European Union is likely to take a step to finalize the Continent’s economic and financial recovery strategy. And make no mistake: We all have an interest in this phase of Europe’s protracted struggle to reshape itself. This Thursday, Mario…
Will Europe Lose the War Between the States?
The Greeks did something interesting Tuesday morning. In a highly controversial decision, Athens announced that it would pay those bondholders who refused to participate in last March’s debt swap. Just 3 percent of Greece’s private creditors hold $552 million in bonds…
Save the Euro! The Risky Option that Could Work
Last week was miserable for those hoping the eurozone holds together and its 17 members remain part of the world’s first common-currency union. The bad news kept coming straight through Thanksgiving. But does it all add up to the collapse…
Merkel’s Bold Rejection of Nuclear Power
The continuing fallout from Japan’s Fukushima nuclear disaster has taken us well beyond disrupted supply chains. Case in point: Chancellor Angela Merkel’s just-announced decision to turn Germany into a nuclear-free economy within a decade. The move by Merkel, who is meeting…
The Deficit: Congress Fiddles as America Loses Ground
The recent news from Germany is encouraging for Europe—and sobering for the U.S. Beating all forecasts, unemployment has plunged to its lowest level in nearly 20 years. Business and consumer confidence is hitting records. It is getting hard to flinch…
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