In The News

Greece’s “No” Is No Victory for Democracy

Bernard-Henri Lévy July 8, 2015
Greek defiance, expressed in a referendum that rejected terms for a bailout, is a defeat for democracy – signaling Greece's lack of respect for a process. Citizens in other European nations have deep worries about another bailout without reforms that prevent over-spending, waste and corruption. “Despite its defects, the EU has become a laboratory of democratic innovation, in which, for the...

Greece – A Mess With Consequences

David Dapice July 7, 2015
Greek voters have soundly rejected a set of reforms from the European Central Bank, the European Commission and the International Monetary Fund. The “no” vote may mark the beginning of Greece’s exit from the eurozone, and the uncertainty of what happens next comes at a bad time for the global economy, warns economist David Dapice. Economists can only speculate about the possible political and...

Angela's Ashes: How Merkel Failed Greece and Europe

Peter Müller and René Pfister July 6, 2015
The Greek debt crisis, has put Europe into turmoil, and leaders could have set limits on Greece long ago. Greek Prime Minister Alexis Tsipras heightened uncertainty by scheduling a referendum on whether Greece should accept conditions for a bailout. “Tsipras' radicalism lies in his faith in the power of the decision,” write Peter Müller and René Pfister for Spiegel Online. If he doesn't...

Solar Impulse: One Giant Leap for Green Energy

Zach Rosenberg July 3, 2015
Solar Impulse, with its skeletal frame, took off from Nagoya ,Japan, on June 28 and landed in Hawaii today. Traveling at 30 knots per hour, Swiss pilot André Borschberg has set the world record for longest-duration solo flight. The plane began its journey in Abu Dhabi March 9, and the plan is circle the globe without using fuel. Borschberg shares this feat with Bertrand Piccard. “The airplane,...

Greece's Referendum: The Price of Five Years of Cowardice

Christian Rickens July 1, 2015
Europe’s rescue measures for Greece have failed. The nation is on the brink of bankruptcy, threatening default on International Monetary Fund loans that would trigger an end to additional bailout funds. Greek leaders stunned the rest of Europe by refusing to decide on a proposed deal and instead putting the matter before voters. Europe missed three windows of opportunity to curtail the ongoing...

Can China Save Greece – And the EU?

Shannon Tiezzi July 1, 2015
China is the EU's second trading partner behind the US, and the EU is China's biggest trading partner. “The EU is committed to open trading relations with China. However, the EU wants to ensure that China trades fairly, respects intellectual property rights and meets its WTO obligations,” notes the European Commission. Chinese Premier Li Keqiang attended a China-EU summit in Brussels,...

Greece’s Banks Give Eurozone Peers Glimpse Into Abyss

Paul J. Davies June 29, 2015
Greek banks do not have enough money to provide depositors with limited amounts, restricted at $67 per day, which may be needed for daily expenses. Greece is not alone. “Beyond Greece, the rest of the eurozone must look to an acceleration of full banking union to protect weaker banks in Portugal, Austria and other countries,” writes Paul Davies for the Wall Street Journal. The bailout program for...