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  • Eurozone

    Surprise, Surprise: Nobel Prize Awarded for Politics, Not Substance

    Many self-righteous and smug Eurocrats will be celebrating the European Union’s Nobel Peace Prize, which was awarded earlier today in Oslo, Norway. Wisely and sensibly, some European leaders, such as British Prime Minister David Cameron and Czech President Václav Klaus, decided not to attend today’s ceremony. It was clear to … More

    As Spain and Greece Burn, Estonia Offers a Lesson

    Over the past few days, new strikes and riots have convulsed Greece and Spain. Conventional wisdom (including from economist Paul Krugman) suggests that cuts in government spending—often described as “austerity”—are a primary cause of the economic downturn in these nations and across much of Europe. This “demand deficiency” hypothesis leads … More

    Eurozone: A Bad Situation Getting Worse

    At this point in the Eurozone crisis, the only responsible thing for European leaders to do is to develop contingency plans that will minimize the economic fallout in Europe when—not if—Greece defaults. Economic figures released today for the fourth quarter of 2011 paint a bleak picture for the already embattled … More

    No US Taxpayer Dollars for Greek Bailouts

    The European Union (EU) has gone hat in hand to the International Monetary Fund (IMF) for assistance in bailing out one of its own. Greece is in a financial death spiral brought on by years of amazingly irresponsible deficit spending and similar behaviors often found in socialist states to the … More