After Local Elections, Italians Seek Room for Stimulus
The parties that support Mario Monti lose support in local elections. Italians are tired of austerity.
Southern Europe
Europe’s Age of Austerity Drawing to a Close?
Elections in France and Greece could thwart Europe’s emphasis on fiscal consolidation.
Portuguese Finance Minister Warns: No More Stimulus
Vítor Gaspar says Portugal’s deep economic recession is a “cautionary tale” of the failure of Keynesian stimulus policy.
Left Wing, Unions Stall Italian Labor Reforms
There is little doubt that Italy’s employment system must change but left-wing parties and unions are critical.
Greek Debt Agreement Met With Cautious Optimism
Having reduced its gargantuan debt burden, the Greek government can say, from here, things will get better.
Greece Enters Selective Default With Second Bailout
Greece enters “selective default” as a result of a bond swap arrangement.
Fortress Under Siege? Gibraltan Sovereignty in Jeopardy
The Spanish government has signaled an interest in renegotiating the position of the Rock. What’s at stake?
Greek Leaders Clinch Austerity Deal for Bailout
Greece’s political leaders agreed to implement further budget cuts in order to qualify for another European rescue package.
Portuguese Foreign Minister Conducts Economic Diplomacy
The European country’s new center-right government intends to conduct foreign policy with a business mentality.
Montenegro to Join Russian South Stream Project
The Russian gas pipeline is picking up momentum.
Europe “Essentially Makes Keynesianism Illegal”
Britain stands on the sidelines as the rest of Europe moves toward closer economic and fiscal integration.
Greece’s Problems Are Only Getting Worse
The Greek economy is shrinking and its debt burden growing at a faster pace than previously projected.
Monti Asks Europe to Recognize Italy’s “Sacrifices”
Italy’s prime minister urged a more activist policy on the part of the central bank to reduce its borrowing costs.
Spain’s Deficit Higher Than Expected, Taxes Hiked
Spain’s new government embarks on an austerity agenda with budget cuts and tax increases.
Italy’s Monti Defends New Austerity Measures
The prime minister warns that “the survival of the common currency” could be at risk if Italy doesn’t reform.