One of the founding fathers of the euro admits that some states may be forced to abandon the single currency, but insists Germany would be better off staying in.
Otmar Issing, a former European Central Bank chief economist, warned that the eurozone could be heading towards fracture in a book calledHow we save the euro and strengthen Europe published this week .
“Everything speaks in favour of saving the euro area. How many countries [...]
ATHENS, GREECE – Want to know why the next Greek government — whoever that may be — has virtually no chance of lasting a long time or getting anything done?
Because right from the start they’ll be overwhelmingly unpopular.
Jefferies’ David Zervos explains how despite the fact that a pro-bailout coalition might be feasible after last night’s Greek result, the anti-bailout faction is as popular as ever, as wel…
In a sign of further fracture, [...]
The sophisticated nest building skills of Orangutans exhibit a degree of technical knowledge to match those of the most talented birds, say scientists.
The great apes construct large, oval nests in tree canopies where each evening they will curl up and sleep but little is known about their mechanical design.
A year-long study of over a dozen nests on the Indonesian island of Sumatra has now shown the orangutans choose strong, rigid branches for the structural [...]
Illustration by Grant Snider
By ADAM DAVIDSON, NYT
I remember the first time I interviewed a relatively unknown economist named Nouriel Roubini. It was 2005, and as we sat in his New York University office, he laid out his scary vision of the future. Roubini is a specialist in the flow of money around the world and the crises that (sometimes) result. But on that day he wanted to talk about the [...]
SOFIA, Bulgaria (AP) — Her 85-year-old husband needed immediate surgery but doctors told her to find blood for the operation herself. So Slavka Petrova swallowed her anguish and went to haggle on the black market outside the national blood clinic.
It’s a grim reality for patients and families in Bulgaria, a struggling EU nation where donors are troublingly scarce, hospitals are strapped for funds [...]
With everyone chanting the praises of the “better than abysmal” economy, we decided to post a time lapse video prepared by John Lohman, of just how the New Normal has been progressing, both since the starts of the great depression in December 2007, and more importantly, since the beginning of the “end” of the recession. The result may surprise you. As John points out: food stamps – the only [...]