1. Is Austerity Losing the Battle in Europe?

    Germany accepts investments and stimulus but hasn’t given up on structural reform.

    By Alberto Lozano The different measures implemented in Europe in order to boost growth through increased monetary action, investment and structural reforms have replaced austerity as the new dominant dogma. While Angela Merkel is…
  1. French Premier Announces Long-Awaited Labor Reforms

    Manuel Valls proposes to open up protected professions and make it easier for firms to lay off workers.

    French prime minister Manuel Valls announced a package of long-awaited economic reforms on Wednesday that at least some members of his own Socialist Party are likely to resist. "We need to unblock the economy, liberate energies, lift constraints," Valls said.…
  1. Slow to Reform, Greece Needs Bailout Extension

    European and IMF officials are unconvinced Greece is ready to return to market financing.

    Greece is likely to have to ask other eurozone countries for an extension of its bailout program because a new credit line has yet to be agreed upon, the Reuters news agency reported on Wednesday. After receiving two bailouts, worth…
  1. British Budget Seen as Conservative Election Statement

    Chancellor George Osborne boasts of high growth and tax cuts but the deficit remains high.

    In introducing his spending plans for the next half year on Wednesday, British chancellor George Osborne drew a contrast between his Conservative Party's successful economic policy and the opposition Labour Party's obsession with taxing the rich. "From his first to…
  1. Italy’s North-South Divide Worsening

    Southern cities are falling behind in terms of economic development and governance.

    Italy's north-south divide appears to be worsening with southern cities falling further behind their northern counterparts in terms of economic development and governance. A quality of life index published yearly by the Il Sole 24 Ore business newspaper shows large northern cities such as Bologna, Milan and…
  1. Russia Cancels South Stream Citing European Opposition

    The pipeline’s cancellation is hardly an economic loss for Russia. It was always a political project.

    Russia's Gazprom said on Monday it was canceling construction of the South Stream pipeline due to European opposition. "The project is closed. This is it," the company's chief executive, Alexei Miller, told…
  1. Danish Energy Sale to Goldman Sachs Meets Resistance

    Danes are critical of the partial sale of their national energy company to an American investment bank.

    Years of conservative rule ended in Denmark with the 2011 election of Social Democrat leader Helle Thorning-Schmidt, whose coalition also included the Social Liberal Party and Socialist People's Party. Two years later, the Socialist People's Party left the coalition over the decision to sell…
  1. Brussels Warns: Spain’s Labor Legislation Punishes Temporary Workers

    The European Commission urges Spain to eradicate the duality in its labor market.

    By Ana López-Varela The Spanish labor market is bearing its teeth toward temporary workers by penalizing them excessively. That is the verdict of the European Commission, who highlight concerns in a recent report titled "Wage Adjustment in Spain: slow, inefficient and unfair?" (PDF) published by the…
  1. America, Japan Block Trans Pacific Partnership Progress

    Protectionism in both countries is preventing progress on what could be a huge trade agreement.

    What could be one of the world's most comprehensive trade agreements, encompassing twelve nations that jointly account for 40 percent of global commerce, remains mired in disputes that have less to do with trade than domestic politics. The most recent Trans Pacific Partnership talks in Sydney, Australia…