Europe is frequently held up as an example of how the rest of the world should behave on a variety of issues. But this comparison
As the eurozone spins out of control and Britain considers leaving the European Union, this is a good time to recall some of the debates
Since its inception, critics of the eurozone have been pointing to its incomplete nature — everyone uses the same money but keeps their own national
The Austrian School of economics has a concept called a “crack-up boom” in which a critical mass of people conclude that their government is actively
Though it might yet drag on for weeks, months or even years, Greece’s drama can end in one of only two ways: Continued austerity which
Let’s see…a heavily-indebted country can’t pay its bills, engages in a long series of failed attempts to manage a partial, controlled default, sees most of
One of the defining traits of financial bubbles is the willingness of traders and investors to interpret pretty much everything as a buy signal. Rising
Tuesday’s markets really liked hearing that Greece’s new “radical-left” leaders had, once in office, backpedalled on their demand for debt restructuring. Now they apparently just
Switzerland, as everyone knows by now, has slipped out the back door of the drunken orgy that is the modern financial system. And the other
2013 was a year in which lots of imbalances built up but none blew up. The US and Japan continued to monetize their debt, in
Europe’s leaders — that is to say German Chancellor Angela Merkel and the bureaucrats running the various eurozone agencies from Brussels — have looked into
Getting Europe’s mainstream politicians and appointed technocrats to agree to bailouts and austerity was actually the easy part. The real challenge for these guys will
As the Greek default (and it is a default no matter what they end up calling it) is finalized this week, the consensus seems to
The Eurozone’s descent into chaos is starting to get repetitive — though with each iteration the numbers do get scarier. Back in 2010, for instance,
Cut through the clutter and mainstream media noise. Get free, concise dispatches on vital news, videos and opinions. Delivered to Your email inbox daily. You’ll never miss a critical story, guaranteed.
