eurozone

Christopher Caldwell on the euro and the damage it wrought.

The Eurozone had a slow recovery from the Great Recession, and now that recovery is slowing down.

Greece ill-temperedly rattles a tin cup, desperate for another handout from the European Union but feeling far more anger than gratitude toward its would-be benefactors.

The vote in Greece is running 60 percent “No” on the terms of its creditors.  The same experts who had been predicting a close vote will now explain why it was a runaway in favor of … well, who knows.  But count on the usual confident voices to sort it all out.  

The crisis in Greece remains … a crisis.  After five years, during which time everyone who was paying attention said it was a crisis.  And, of course, the crisis went unresolved. The end game may come soon but, then, who knows?  But there seems to be a consensus of sorts building around the idea…

September 12 was a momentous day for Europe. It saw three separate events that in a powerful way may come to remake the European Union.  First, Germany’s Constitutional Court ruled that the nation’s parliament can ratify a new, permanent rescue fund for the eurozone, called the European Stability…

"I don't think ultimately that the Europeans will let the Euro unravel, but they are going to have to take some decisive steps ... and I am spending an enormous amount of time, trying to work with them. The sooner that they take some decisive action, the better off we are going to be," Barack…

The Economic Times reports: 

A new chart, set to be released later today by the minority office of the Senate Budget Committee, finds that, in the next five years, "U.S. Per Person Debt To Increase 7 Times Faster Than Italian Debt."

The New York Times profiles the mayor of Thessaloniki, Yiannis Boutaris, the Scott Walker of Greece:

According to figures provided by the International Monetary Fund, and compiled into this easy to read chart by the Republican side of the Senate Budget Committee, America will "spend 60 percent more per person than Spain over [the] next 5 years."[img nocaption float="center" width="500"…

The eurozone might be cracking up, but as far as debt goes, America appears to be in worse shape than the entire eurozone in the long run. According to a new chart set to be released later today by the Republican side of the Senate Budget Committee, America is on track "to add three times more debt…

This business with Greece goes on and on, and one begins to think, automatically, of Sisyphus and his rock. Only in this case, you start pulling for the rock.

A cynic would be tempted to compare the eurozone to Ryou-Un Mara, the rusty Japanese ghost ship that floated across the Pacific after last year’s earthquake. Some wrecks surprise us by staying afloat for a long time, but that does not make them less of a wreck.

The Republican side of the Senate Budget Committee will release this chart later today, clearly showing that America's debt is greater than the combined debt of the entire Eurozone and the U.K.:

Standard & Poor’s warning that no less than fifteen eurozone states, including Germany, could lose their AAA credit rating has been met with howls of protest from leading German politicians. The general secretary of the Social Democratic party (SPD), Andrea Nahles, described the Standard and Poor’s…

Financial Times: "The eurozone really has only days to avoid collapse"

Greece and Italy may be ungovernable, but America is ungoverned. The president ducked out of the country for an Asian tour while the supercommittee tried to reach agreement on a plan to cut the deficit. But the Democrats refused to offer specific cuts in entitlement spending, despite a Republican…

Mario Monti’s appointment as prime minister of Italy has given some hope to observers of the current crisis in the eurozone. Monti, a former student of Nobel Prize winning economist James Tobin at Yale and president of the Bocconi University in Milan, has strong academic and policy credentials.…

Associated Press: "Obama donor discussed solar loan with White House"