The Truth and Beauty of Madrid and Lombardia (Down and Out)

Summary: The fate of Europe depends on many factors, not least on the support of the people in Europe's periphery for the European Union. Today we have an excerpt from Truth & Beauty that gives an accurate picture of conditions in this pivotal region, with a comparison to Russia's time of troubles. . This is … Continue reading The Truth and Beauty of Madrid and Lombardia (Down and Out)

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Spain’s’ only three options for recovery

Summary:  The Euro-crisis began in March 2010, and yet its causes and basic elements remain widely misunderstood -- including, based on their public statements, by many of Europe's leaders.  Here Prof Pettis gives a clear explanation of what's happening, and of Spain's only three ways out of this crisis. Excerpt from "Three cheers for the … Continue reading Spain’s’ only three options for recovery

The bailout of Spain’s banks shows the heart of our problem

Summary:  The US and Europe have not recovered from the 2008-09 crash in part because we applied first aid, but squandered the time those measures bought for us (at great cost).  An essential aspect of post-crash reforms is fixing our financial systems.  The bailout of Spain's banks -- expensive for Spain's people, easy money for … Continue reading The bailout of Spain’s banks shows the heart of our problem