Today, Cyprus’s banks opened for the first time in more than 10 days, after Cypriot President Nicos Anastasiades—without seeking approval from his parliament—agreed to bailout terms that will raid citizens’ bank accounts. Those banking in Cyprus should not get too excited about the banks reopening. Strict capital controls are in …
January’s unemployment numbers for the 17 countries of the eurozone has moved closer to 12 percent. This underscores the strong economic headwinds that face these member nations as they continue to grapple with an ongoing economic crisis. This same data reveals deep internal chasms within the eurozone between the economically …
French President Francois Hollande told reporters yesterday that Boko Haram, an Islamist terrorist group based in Nigeria, abducted a French family of seven, including four children, in northern Cameroon. Hollande noted the continuing role of France in the fight against Islamist radicals in Mali and said the French parents and …
The President and his team have been blaming “European headwinds” for some of the U.S. economy’s woes. But the truth is that the policies pursued by Washington and Athens are frighteningly similar—and the outcomes are not good for either country. Both countries are in need of comprehensive fiscal reforms, yet …
Last weekend, the people of France took a sharp turn to the left, and the rest of Europe may be on the brink of rebuking its recent tack toward fiscal responsibility. With Sunday’s election of French Socialist leader Francois Hollande, France has leapt backward toward the policies that have helped …
The European euro/debt/growth/banking/identity crisis is entering its third year. With so many summits, toasts, tense conference calls, and self-congratulatory pronouncements of ultimate success by Europe’s brightest lights, why won’t the crisis just go away? Instead, it is ramping up as interest rates on Spanish and Italian debt rise to critical …
We’ve corrected Paul Krugman in the past, when he mistakenly invoked imaginary British spending cuts as proof that undercutting Keynesian hydraulics will demolish an already limp economic recovery. This time he points to Greek austerity – or “spending cuts” – as he characterizes it. “Not a day goes by without …
