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While the Obama administration is eager to create jobs, the EU pushes through austerity measures that will lead to further declines in production and growth rates.
CAPE TOWN – At last, European leaders have revealed their top-secret plan for solving the euro’s crisis. And it is – drum roll – a version of the 'Tobin tax', a levy on financial transactions first suggested in 1972 by the Nobel laureate economist James Tobin.
BUENOS AIRES – Many observers have recently declared that the Eurozone debt crisis is practically resolved, or at least on hold for a few years.
Scheduled to come into effect on 1 March, Google’s much-publicised new privacy policy and terms, which it says will give users better search results, ads and improve their experience overall, have come under scrutiny from the EU's data-protection authorities.
PARIS – No sooner did US President Barack Obama welcome home American troops from Iraq and laud that country’s stability and democracy than an unprecedented wave of violence – across Baghdad and elsewhere – revealed the severity of Iraq’s political crisis.
From a markets perspective, rarely is the eternal pessimist – i.e. the investor currently thinking the world is going to hell in a hand-cart – correct.
We may need short-term decisions to overcome the crisis, but we want our leaders to keep the long-term perspective of sustainability, which simply means that, by meeting our everyday needs, we don’t restrict the ability of future generations to meet their needs.
MUNICH – Would the world be more peaceful if women were in charge? A challenging new book by the Harvard University psychologist Steven Pinker says that the answer is 'Yes'.
NEW YORK – Nothing illustrates better the political crosscurrents, special interests, and shortsighted economics now at play in Europe than the debate over the restructuring of Greece’s sovereign debt. Germany insists on a deep restructuring – at least a 50% 'haircut' for bondholders – whereas the European Central Bank (ECB) insists that any debt restructuring must be voluntary.