In The News

Europe Sneezes, India Catches a Cold

Nayan Chanda November 2, 2011
Cooperation could prevent contagion stemming from the Greek debt crisis, explains Nayan Chanda, YaleGlobal’s editor, in a column for the Times of India. The 17 members of the eurozone shared a monetary policy without common fiscal regulation. Reckless borrowing ensued. A negotiated bailout requires setting up a $1.4 trillion rescue fund along with reforms. So far, Greece and Italy resist...

London Is Under Constant Attack From Europe

James Kirkup October 28, 2011
Nations will watch closely to see if Britain can distance itself from the pain of the Greek debt crisis. Great Britain is one of 27 members of the European Union, but not part of the 17-member eurozone. The British capital of London is also a global center of financial firms, which greased the way for massive debts in Greece, Italy, Spain and elsewhere. David Cameron, the British prime minister...

Liam Fox's Atlantic Bridge Linked Top Tories and Tea Party Activists

Jamie Doward October 18, 2011
It’s a nation’s worst nightmare – secret foreign meddling in national politics. A British investigation of the charity Atlantic Bridge has led to the resignation of the British defense secretary. Atlantic Bridge, a charity, was also a networking group for conservatives to defend common interests in a globalized economy, linking corporate interests with British cabinet members, US senators and...

How to Stop a Second Great Depression

George Soros September 30, 2011
Confidence in the global economy is slipping, as wealthy nations fail to control debt and prevent growing fears over defaults and government bonds once assumed to be safe. In an essay for the Financial Times, financier and philanthropist George Soros urges three bold steps for Europe to allow orderly default by Greece, if necessary, and keep the global markets calm: create a common treasury for...

Going... Going... Greece on the Brink

Maria Margaronis September 22, 2011
The social turmoil, bitterness and political infighting that accompany Greece’s debt crisis could offer a preview for other nations that fail to practice fiscal discipline. In exchange for loans, Greece’s creditors demand that the government cut spending, lay off public employees, reduce entitlements and raise taxes. A series of quick fixes and delays have given savviest creditors time to prepare...

Cycle of “Compulsive Consumerism” Leaves British Family Life in Crisis, Unicef Study Finds

John Bingham September 20, 2011
Pointless accumulation of material goods, as compensation for widening inequality, was an underlying cause of the widespread UK riots in August, contends Unicef UK. Work-weary parents who replace playtime and conversations with “stuff” are raising unhappy, difficult children. In a follow-up to a 2007 Unicef study showing that the well-being of British children was the lowest among OECD nations,...

China Plays Hard Ball

François Godement September 19, 2011
European nations deep in debt are playing a dangerous game with China by teasing global markets. Neither borrowers nor would-be rescuers offer transparency about how much European debt China holds. Sensing that China is increasingly the only available willing buyer, leaders like Wen Jiabao allude to conditional lending, urging an end to anti-dumping charges or allowing asset sales that benefit...