Global News Journal

from MacroScope:

Frustrated Greeks

March 22, 2010

The Greek debt crisis appears to be entering a new phase, in which the country is no longer just waiting to get needed help but getting concerned that others -- including euro zone powerhouse Germany -- may actually be making it hard for them to recover.

Head scratching over EU plans for EMF, helping Greece

March 17, 2010
IMF Managing Director Dominique Strauss-Kahn

IMF Managing Director Dominique Strauss-Kahn

It was no great surprise that the managing director of the International Monetary Fund looked perplexed when asked during a visit to Brussels to comment on proposals to create a European monetary fund.

What flesh will be put on the bones of an EMF?

March 9, 2010

In the space of a few weeks, the idea of creating a European Monetary Fund to rescue financially troubled EU member states has gone from being a high-level brainwave from a pair of economists to a major policy initiative backed by powerbroker Germany. In EU terms, that’s Formula One fast.

EU tests its vision with 2020 strategy

March 3, 2010

In 2000, the European Union set its sights on becoming the world’s most dynamic, knowledge-based economy by 2010. It failed. Economic recession hardly helped, but EU officials acknowledge its goals may have been a little too ambitious.

Should Norway bail out Iceland?

March 2, 2010

icesaveWhile not exactly pocket change, Iceland’s $5.5 billion Icesave debt to Britain and the Netherlands amounts to just 1.2 percent of the value of Norway’s offshore wealth fund. For Iceland, it’s more than $15,000 per citizen.

Sniping mars EU image and unity

February 24, 2010
Herman Van Rompuy

Herman Van Rompuy

The European Union seems to have developed a habit of shooting itself in the foot.

Cometh the hour, cometh Van Rompuy?

February 8, 2010

van rompuy2Three months ago, Herman van Rompuy might have struggled to be recognised on the streets of his native Belgium, let alone Paris or London. The bookish former prime minister, a fan of camping holidays and Haiku poetry, was nothing if not low-key; a studious consensus builder in the world of Belgian politics.

Does Greece really deserve such a market pummelling?

February 3, 2010

So there’s no question Greece has work to do to improve its bookkeeping.

Not only must it get spending in check,  but it needs to be a bit more honest about where its finances stand in the first place. After all, it’s not often an EU country says one month that its budget deficit is a little over three percent of GDP and admits a few weeks later that, oh dear, it’s actually nearer 13 percent.

Europe draws inspiration from U.S. Peace Corps

January 26, 2010
Carla Bruni, wife of French President Nicolas Sarkozy, talks to a Haitian orphan

Carla Bruni, wife of French President Nicolas Sarkozy, talks to a Haitian orphan

Greece’s grey election campaign turns voters to comedy

October 1, 2009

Greek elections have traditionally been raucous, ebullient affairs, a true celebration of democracy in the country that gave birth to the concept. This year, the mood is noticeably more sombre ahead of Sunday’s vote. Colourful elections kiosks at main squares stand nearly empty, attracting few voters. The chat at cafes and on the Internet usually centres on voters’ disappointment with politics as a whole for failing to fight corruption and put the economy on a steady growth path.