The whole of Europe seems to be in economic and political crisis. But there is a small area of calm at the continent’s core: Switzerland. Although much of what makes the country successful would not translate to the rest of Europe, the parts of its political framework that encourage popular legitimacy would — and they […]
There are many reasons that the fate of Cyprus is being followed so closely in Britain. One is sympathy for those who are about to pay the price for the sins of a banking sector that was at one point seven times the size of the island’s economy. Another is shock at how the island, […]
Russia recently turned down a deal to save Cyprus’ banking sector. At first glance, the move looked like a huge strategic blunder. In fact, a credible offer was never on the table and Moscow needs no accord to secure its dominance on the island. Read Here – Foreign Affairs
One thing that everyone can agree on in Brussels is that Cyprus is a minnow in the European fish pond, accounting for less than 0.5 per cent of the euro zone economy. In the words of the German finance minister, Wolfgang Schäuble, the island is “not systemically important”. Read Here – The National
One way or another, the situation is Cyprus likely marks a major turning point in the eurozone crisis. It could be the beginning of true disaster for the zone, eventually leading to a series of sovereign debt defaults and possible exits from the euro area. It could also be the point at which we learn […]
Since the second half of 2012, financial markets have recovered strongly worldwide. Indeed, in the United States, the Dow Jones industrial average reached an all-time high in early March, having risen by close to 9% since September. In Europe, European Central Bank President Mario Draghi’s “guns of August” turned out to be remarkably effective….But this financial market […]
Ten years ago, Germany was considered the sick man of Europe. Its economy was mired in recession, while the rest of Europe was recovering; its unemployment rate was higher than the eurozone average; it was violating the European budget rules by running excessive deficits; and its financial system was in crisis. A decade later, Germany […]
Today, three European countries are among the world’s seven largest economies. Ten years from now, only two will remain. By 2030, only Germany will still be on the list, and by 2050, none will remain. Indeed, by then, the United States will be the only representative of the West in the top seven. Read Here […]
Five years after the advent of the crisis, it’s time to shed outdated economic paradigms. Four international experts explain the ideas we have to leave behind – and outline what comes next for the global economy. Read Here – The European
The European Union is in a rut. Its once-vaunted economy and “ever closer” integration is facing the tough challenges of a dogged recession and anti-EU sentiment in some of its most powerful member states. It is therefore perhaps not surprising that some EU aspirants appear lukewarm about their prospects and continued desire to join the club. […]
looking beyond borders 