Protesting Italian miner slashes wrist on television

(Reuters) – A Sardinian miner slashed his wrist in front of television cameras on Wednesday as some 100 fellow workers stayed barricaded underground in a campaign to keep Italy’s only coal pit open. “We cannot take it any more. We cannot! We cannot!” Stefano Meletti, 49, shouted to reporters in a dark chamber of the … Continue reading

One more summit: The crisis rolls on

by Charles Wyplosz The EU summit produced a vaguely worded agreement that can and has been read in different ways in different nations. This column provides a quick reaction to what was and was not decided. It concludes that useful progress was made, but this was far from the decisive turn-around that many had hoped … Continue reading

Solidarity is Europe’s only hope

by James K. Galbraith In an opinion piece for DW’s Transatlantic Voices column, James K. Galbraith argues that neither growth nor austerity are the right remedies for the eurozone crisis. Instead, the focus should be on solidarity. The austerity moment is passing. Britain’s double-dip recession and Europe’s 11 percent unemployment show where austerity leads. Public … Continue reading

Why the All-Important Greek Election Changed Absolutely Nothing

On Sunday, Greek citizens voted for the euro. On Monday, investors voted against it. And so, an election that we expected to avert an international financial meltdown ultimately corresponded with one.

How Big Are the PIIGS? (Bigger than you may realize!)

“PIIGS” we are informed in the current Wikipedia entry “is a pejorative acronym used to refer to the economies of Portugal, Italy, Greece and Spain. Since 2008, the term has included Ireland, either in place of Italy or with an additional I.” With apologies, I am joining the ranks of contributors to such august publications as the New York … Continue reading

If elections could change things, they’d be illegal

New York, NY – Were one to write a pre-election analysis in the glorious days of Greece’s ancien regime, one would most probably have to present and analyse the political positions of the main competing parties. Yet, this is one of the most outdated things one might want to do if one intends to say anything useful … Continue reading

Eurozone private sector drops, signalling recession: PMI

(BRUSSELS) – Eurozone private sector activity retreated in March, providing new evidence that the 17-nation single currency area is in recession, a key survey showed on Wednesday. The composite Purchasing Managers Index (PMI) compiled by Markit research firm hit a three-month low, dropping to 49.1 points in March compared to 49.3 in February. A score … Continue reading

Spain, Italy slide further into euro zone crisis

(Reuters) – Spain and Italy faced growing market pressure on Monday, stoking fears of a new phase in the euro zone debt crisis as Madrid’s budget problems threatened to drag in other southern European economies. Yields on Spanish 10-year bonds have climbed over 6.1 percent, nearing levels that caused general market panic when Italy was in the … Continue reading

German finance minister: We’re Greece’s scapegoat

The ill will many Greeks feel toward Germany for imposing painful financial conditions on the massive loans the country made to them are just a normal response to a difficult situation, says German Finance Minister Wolfgang Schaeuble. It’s natural for people suffering from their own mistakes to blame others, Schaeuble tells Steve Kroft for a … Continue reading

Protest of the day