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1:32 PM, Aug 5, 2011 • By DALIBOR ROHAC
With the debt ceiling debate behind us, now might be a good time to get back to the biggest problem currently facing the world economy: the eurozone. While the European debt crisis may have slipped off Americans' radar screens in the past weeks, its significance has not diminished.
Read more... At last, the votersAug 1, 2011, Vol. 16, No. 43 • By ANDREW STUTTAFORD
Billion by billion by billion, showdown by argument by ultimatum, Greece’s latest bailout is being put together by those who run the eurozone. The country’s finances are so bad, and its prospects so poor, that even the new $159 billion rescue package announced on Thursday will (assuming it comes into effect) probably only prove to be a reprieve.
Read more... 2:44 PM, Jun 22, 2011 • By DALIBOR ROHAC
Although Greek prime minister George Papandreou survived a vote of confidence last night, meeting the conditions required by the IMF for the disbursement of another tranche of aid to its ailing economy, parliament will have to pass another austerity package later this month.
Read more... A currency divided against itself cannot stand.May 9, 2011, Vol. 16, No. 32 • By IRWIN M. STELZER
A spectre is haunting Europe—the spectre of the disintegration of the eurozone. All the powers of old Europe have entered into a holy alliance to exorcize this spectre: German chancellor and French president, the Brussels eurocracy and the bonus-laden bankers. Let the ruling classes tremble. The debtors have nothing to lose but their burdens.
Read more... The stimulus pleas of the Obama administration fell on deaf ears in Berlin. Guess whose economy is growing faster.Nov 8, 2010, Vol. 16, No. 08 • By CHRISTOPHER CALDWELL"You won’t find a lot of Keynesians here,” explained one German economic policymaker in Berlin in September. That will not be news to anyone who has spoken to his counterparts in Washington. In their view, Germany is a skulker, a rotten citizen of the global economy, the macroeconomic equivalent of a juvenile delinquent, or worse. It is a smart aleck in the emergency ward that is the global economy. It is a flouter of the prescriptions of the new Doctor New Deal who sits in the White House.
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