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US, India dance awkwardly around the man who might be India's next leader

Wed, 15 May 2013 00:00:00 -0700

Christian Science Monitor - May. 15 (News Report) - If Narendra Modi wins India's elections next year it would inject discomfort into the deepening relationship between India and the US. ...

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Crisis for Europe as trust hits record low

Thu, 25 Apr 2013 00:00:00 -0700

The Guardian - By Ian Traynor - Apr. 25 (News Analysis) - Poll in European Union's six biggest countries finds Euroscepticism is soaring amid bailouts and spending cuts Public confidence in the European Union has fallen to historically low levels in the six biggest EU countries, raising fundamental questions about its democratic legitimacy more than three years into the union's worst ever crisis, new data shows. After financial, currency and debt crises, wrenching budget and spending cuts, rich nations' bailouts of the poor, and surrenders of sovereign powers over policymaking to international technocrats, Euroscepticism is soaring to a degree that is likely to feed populist anti-EU politics and frustrate European leaders' efforts to arrest the collapse in support for their project. Figures from Eurobarometer , the EU's polling organisation, analysed by the European Council on Foreign Relations (ECFR), a thinktank, show a vertiginous decline in trust in the EU in countries such as Spain, Germany and Italy that are historically very pro-European. ...

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Fasten seatbelts, air passengers. Climate change ahead.

Tue, 09 Apr 2013 00:00:00 -0700

Christian Science Monitor - Apr. 09 (Special Report) - Transatlantic flights will be bumpier by 2050 because of rising CO2 emissions, a new study finds. Turbulent episodes could double and the average strength of turbulence would also rise 10 to 40 ...

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Putin and Merkel set for a prickly Russian-German summit?

Sat, 06 Apr 2013 00:00:00 -0700

Christian Science Monitor - Apr. 06 (News Analysis) - The Russian and German leaders are set to meet Sunday. But while business between the two nations is good, Germans are concerned over the Kremlin's domestic crackdown. ...

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Eurogroup talks on Cyprus bailout under way

Sun, 24 Mar 2013 00:00:00 -0700

BBC News - Mar. 24 (News Report) - A key meeting of eurozone finance ministers to discuss a crucial bailout for Cyprus has begun in Brussels. The talks were delayed by four hours while President Nicos Anastasiades was locked in talks with EU, European Central Bank and IMF leaders.

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Russian Ties Put Cyprus Banking Crisis on East-West Fault Line

Sun, 24 Mar 2013 00:00:00 -0700

New York Times - By By ANDREW HIGGINS - Mar. 24 (News Report) - Cyprus’s plan to seize money from bank depositors created unease as the country struggled over a bailout deal and sat at the center of conflicting international interests.

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Residents rush to pull money from Cyprus banks as EU takes aim at Russian deposits

Mon, 18 Mar 2013 00:00:00 -0700

Fox News - Mar. 18 (News) - Cypriots rushed to pull their money out of banks and ATMs before the tiny Mediterranean nation’s government could finalize a plan to seize depositors’ funds to satisfy austerity demands from euro zone leaders, sparking a run that prompted banks to be closed until at least Thursday.

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Cyprus: panic as savings levy is imposed

Sun, 17 Mar 2013 00:00:00 -0700

The Guardian - By Paul Gallagher, Helena Smith - Mar. 17 (News Report) - Cypriots rush to ATMs before savings are docked as part of a bailout deal agreed in Brussels Cypriots reacted with shock that turned to panic on Saturday after a 10% one-off levy on savings was forced on them as part of an extraordinary 10bn euro (£8.7bn) bailout agreed in Brussels. People rushed to banks and queued at cash machines that refused to release cash as resentment quickly set in. The savers, half of whom are thought to be non-resident Russians, will raise almost €6bn thanks to a deal reached by European partners and the International Monetary Fund (IMF). It is the first time a bailout has included such a measure and Cyprus is the fifth country after Greece, the Republic of Ireland, Portugal and Spain to turn to the eurozone for financial help during the region's debt crisis. The move in the eurozone's third smallest economy could have repercussions for financially overstretched bigger economies such as Spain and Italy. People with less than 100,000 euros in their accounts will ...

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Bulgarian PM's resignation accepted

Thu, 21 Feb 2013 00:00:00 -0800

BBC News - Feb. 21 (News) - Bulgarian MPs vote to accept the resignation of Prime Minister Boiko Borisov and his government.

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Israel election setback for Binyamin Netanyahu as centrists gain ground

Wed, 23 Jan 2013 00:00:00 -0800

The Guardian - By Harriet Sherwood - Jan. 23 (News Analysis) - Exit polls prompt speculation that prime minister may seek more moderate coalition Binyamin Netanyahu appears to have suffered a major blow in Israel's general election after television exit polls indicated the narrowest of victories for the rightwing-religious block. There was also a surprisingly strong showing for a new centrist party formed last year, prompting speculation that the prime minister may seek a more moderate coalition to govern Israel for the next few years. Predictions by three television news channels gave 61 parliamentary seats to the rightwing and religious parties, and 59 to the centre, left and Israeli-Arab parties. Netanyahu remains on course to continue as prime minister as his rightwing electoral alliance, Likud-Beiteinu, looks set to be the biggest party with 31 seats out of 120 in the next parliament. But Yesh Atid, a new centrist party led by a former television personality, was predicted to come second with 18 or 19 seats. Yesh Atid concentrated its ...

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Rally in Athens against Greece's Golden Dawn

Sat, 19 Jan 2013 00:00:00 -0800

BBC News - Jan. 19 (News) - Some 3,000 people take part in a demonstration in the Greek capital Athens to protest against the rise of the neo-fascist party Golden Dawn.

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The New Plan to Save Europe (and Why It Almost Certainly Won't) - Derek Thompson - The Atlantic

Fri, 07 Sep 2012 00:00:00 -0700

Atlantic Monthly - By Derek Thompson - Sep. 07 (News Analysis) - This morning the European Central Bank announced a brash and market-thrilling plan to help its diseased peripheral European countries borrow at lower interest rates. The catch? Those countries have to do whatever the ECB tells them.

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Iran Tests Missile with New Guidance System

Sat, 04 Aug 2012 00:00:00 -0700

Voice of America - By Edward Yeranian - Aug. 04 (News Report) - Iran says it has successfully tested a short-range missile equipped with a new guidance system that it plans to install on all future missiles it builds. Defense Minister Ahmad Vahidi said on Saturday that the new system has the capability of striking bo

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How 50 bln euros might save the euro

Mon, 25 Jun 2012 00:00:00 -0700

Reuters - By Hugo Dixen, colleague Neil Unmack - Jun. 25 (Investigative Report) - The break-up of the euro would be a multi-trillion euro catastrophe. An interest subsidy costing around 50 billion euros over seven years could help save it. The immediate problem is that Spain’s and Italy’s borrowing costs 6.3 percent and 5.8 percent r

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Portugal's green energy dilemma

Fri, 22 Jun 2012 00:00:00 -0700

BBC News - Jun. 22 (News Analysis) - Will recession end Portugal's energy drive?

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Polls open in Greek vote that could decide fate of euro

Sun, 17 Jun 2012 00:00:00 -0700

Reuters - By George Georgiopoulos, Karolina Tagaris - Jun. 17 (News Report) - Greeks went to the polls on Sunday in an election that could decide whether their heavily indebted country remains in the euro zone or heads for the exit, potentially unleashing shocks that could break up the single currency. In an election fought over the punishing austerity package demanded by international lenders as the price of keeping Greece from bankruptcy, opinion polls showed the radical leftist SYRIZA party, which wants to scrap the deal, running neck and neck with the conservative New Democracy, which broadly backs it.

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Hubris from Ahmadinejad: prelude to compromise on Iran nuclear program?

Sat, 09 Jun 2012 00:00:00 -0700

Christian Science Monitor - Jun. 09 (News Report) - 'If Iran wants to build an atomic weapon ... no one will be able to prevent it,' President Mahmoud Ahmadinejad said Friday. Here are some interpretations of what that boast really means, as talks near on the Iran nuclear program. ...

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Europe debt crisis and jobs numbers to drive stocks

Sun, 27 May 2012 00:00:00 -0700

CNN - By Hibah Yousuf - May. 27 (News Report) - Memorial Day may mark the unofficial start to summer, but investors won't be getting any rest and relaxation during the coming week. Following a three-day weekend (U.S. markets are closed Monday for Memorial Day), uncertainty will continue to swirl over Europe, with the threat of Greece leaving the eurozone still looming.

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G8 leaders end summit with pledge to keep Greece in eurozone

Sun, 20 May 2012 00:00:00 -0700

The Guardian - By Ewen MacAskill - May. 20 (News Report) - US and France succeed in putting promotion of growth at top of communique despite Germany's resistance to stimulus package Barack Obama and the other G8 leaders wrapped up their negotiations on the European crisis at Camp David on Saturday with a pledge to keep Greece in the eurozone and to promote growth. The communique, which had the growth promise at the top, represents a victory for Obama and the new French president, François Hollande, over German chancellor, Angela Merkel, who has resisted calls for a stimulus package. But it may be shortlived. The communique was short in detail and Merkel could re-establish her dominance next week at an informal European meeting. The eight leaders meeting at the US presidential retreat in Maryland issued a communique declaring in its opening paragraph: "Our imperative is to promote growth and jobs." It added: "The global economic recovery shows signs of promise, but significant headwinds persist. Against this background, we commit to take all ...

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Hollande Ousts Sarkozy in French Presidential Election

Sun, 06 May 2012 00:00:00 -0700

New York Times - By Steven Erlanger, Nicola Clark - May. 06 (News Report) - François Hollande swept into office on Sunday, becoming the first Socialist to be elected president of France since François Mitterrand left office in 1995. Mr. Hollande’s campaign promised a kinder, gentler, more inclusive France, but his victory over President Nicolas Sarkozy will also be seen as a challenge to the German-dominated policy of economic austerity in the euro zone, which is suffering from recession and record unemployment.

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Is US a model for austerity-wary Europe?

Sat, 05 May 2012 00:00:00 -0700

Christian Science Monitor - By Laurent Belsie - May. 05 (News Analysis) - America's poor jobs report has rattled world markets. Germany's DAX index fell 2 percent Friday. Wall Street saw its worst week of the year, as slowing job growth stoked fears that recovery in the United States is faltering. Last month, the economy added only 115,000 jobs.

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Greeks unsettled by demands of a frustrated Europe - The Washington Post

Wed, 01 Feb 2012 00:00:00 -0800

Washington Post - By Michael Birnbaum - Feb. 01 (News Report) - .. before Greece can get more money, Europe is asking it to take steps that threaten to aggravate an already biting recession.

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In Greece, fears that austerity is killing the economy - The Washington Post

Wed, 11 Jan 2012 00:00:00 -0800

Washington Post - By Anthony Faiola - Jan. 11 (News Report) - Unemployment has surged to 18.8 percent from 13.3 percent only a year ago.

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High & Low Finance: A Central Bank Doing What Central Banks Do

Wed, 21 Dec 2011 00:00:00 -0800

New York Times - By Floyd Norris - Dec. 21 (News Analysis) - The European Central Bank has loaned $639 billion to 523 banks to keep credit flowing. It turns out that may be enough to stem the European crisis for at least a few years.

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U.N. Climate Talks End With Deal for New Emissions Treaty

Sun, 11 Dec 2011 00:00:00 -0800

New York Times - By John M. Broder - Dec. 11 (News Report) - More than 190 nations agreed to work toward a treaty that would require all countries to reduce emissions that contribute to global warming.

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