Painful Euro Crisis and Lessons for the World – Part II While overspending and giving citizens a false sense of prosperity, leaders of wealthy governments anticipated future economic growth to resolve all imbalances. This YaleGlobal series analyzes how the debt crisis unfolding in Europe may offer lessons for the rest of globe. A relatively small group of banks and investors control substantial global revenue, explains researcher Joergen Oerstroem Moeller in the second and final article of the series, and creditors naturally want to protect and further increase profits on their investments in sovereign bonds. Creditors will likely favor Europe's strategy for addressing the debt crisis – imposing austerity programs while raising taxes.... More News... Russian Industries May Rile WTO by Undermining Trade Pledges Bloomberg Businessweek, 18 November 2011 Oil and gas industries are ready; farmers and manufacturers seek time-out The Arab Past Meeting the Arab Future David Ignatius The Daily Star, 17 November 2011 To be on the right side of history, Hamas must renounce violence Europe Close to Creating "Budget Tsar" Joshua Chaffin The Financial Times, 15 November 2011 Plan would let one commissioner block spending; some member states fear dwindling power Obama and Asia's Two Futures Yuriko Koike Project Syndicate, 15 November 2011 Obama plays referee in the Asia-Pacific |
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