So we’ve got the fresh Greek elections we expected and markets, despite the inevitability that we would get here, have reacted with some alarm. European stocks have shed around 1 percent, and the harbour of German Bunds is pushing their futures price up in early trade. The Greeks will try to form a caretaker government today to see them through to elections expected on June 17.
The Great Debate UK
from The Great Debate:
By Nicholas Wapshott
The views expressed are his own.
Eighty years ago an anguished debate between two economists began in Britain -- and came to shape the politics of the world after World War Two. The differences between John Maynard Keynes and his nemesis Friedrich Hayek sharply described alternative approaches to addressing the ebb and flow of the business cycle, with Keynes arguing that to put the jobless back to work governments could and should intervene in the market and Hayek insisting that such actions were based on an inadequate understanding of how economics really worked and would only delay the day of reckoning.
from The Great Debate:
By Cliff Young and Chris Jackson
The opinions expressed are their own.
The Obama administration finds itself between a rock and a hard place. On one side, an emboldened Republican Party smells blood, with their largely successful (politically speaking) full court press on the debt issue and dominance of the news cycle. On the other, the economic news—both domestically and internationally—has been depressing at best, and downright scary at worst.
Come back Mr Fukuyama, all is forgiven.
In his 1992 book "The End of History and the Last Man", American political scientist Francis Fukuyama famously argued that all states were moving inexorably towards liberal democracy. His thesis that democracy is the pinnacle of political evolution has since been challenged by the violent eruption of radical Islam as well as the economic success of authoritarian countries such as China and Russia.
from Pakistan: Now or Never?:
Never in the history of Pakistan has a democratically elected civilian government served out its full term and then been replaced by another one, also through democratic elections. It is that context that makes the latest political crisis in Pakistan so important.
- Luke Baker is a political and general news correspondent at Reuters. -
The mountains and deserts of southern Afghanistan are far removed from the elegant charms of Trieste in northern Italy, but there will be a link between the two this weekend.