Larry Summers - and conventional wisdom - say Europe has been experiencing austerity. A Heritage scholar disagrees. So who's right?
If destruction be Europe's lot, an EU nation itself must be its author and finisher. So what are the likely candidates?
Poland decided its economy was too healthy and so now it's going to try to join the Euro.
Experts say the EU is making progress on regulation, banking, and fiscal matters — but not much.
According to a new study, each dollar in spending cuts knocks $1.80 off of growth. But tax increases barely hurt growth at all.
If nothing changes, we're set to replicate all the costs of European austerity, and none of the meager benefits.
The Nobel Peace Prize this year went to the European Union, which prompted cackles at a time when the EU, or at least its common currency, appears on the brink of collapse. But if you look past the snark, there's a strong case for giving it the prize.
Think of the euro zone as a single political body afflicted by a cancer. Greek bond yields are where the cancer began: It's bad, and if the cancer can't be beaten into submission, the euro zone might have to amputate Greece. That would be painful and horrible, but it can be done. Spanish bond yields are where we see whether the cancer has metastasized into the vital organs.
Spanish bond yields are at record highs. Greece is back in crisis. And the stopgap solutions Europe has been falling back on in recent mnths have ceased working.
A somewhat esoteric debate has broken out between the Council on Foreign Relations' geoeconomics team and Paul Krugman.
European leaders announced today that they were preparing a $163 billion stimulus for the euro zone. That sounds like a big deal... until you look at the details.
A Guardian report indicates that Germany is ready to bail out Italy and Spain. But the modest plan is unlikely to be sufficient.