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People don't behave the way economics says they should. Massive simulations of human interactions will warn us of coming crises - from finance to flu

Quand la crise sévit, elle ne dérobe pas seulement l'emploi, ne réduit pas seulement les moyens de subsistance. Elle provoque aussi un effet sur les esprits : celui de réduire à néant les espoirs que fondent les parents sur les études. Pourquoi s'acharner à scolariser ses enfants quand "les retours attendus en termes de travail et de revenus s'amoindrissent" ?

With new European Union leaders practically invisible and some national leaders acting largely for domestic political reasons, the burden of shaping a rapid and credible restructuring program for Greece has fallen primarily to the International Monetary Fund - exactly where proud European Union leaders had insisted it should not be.

Spreading problems in Europe's sovereign debt markets pose potential challenges for China, which has been stepping up its investments in European government bonds and relies on Europe as its biggest export market.

As Greece inches closer to the brink of financial collapse, fear that the debt crisis will spread is engulfing Europe.

Add this to the list of reasons German taxpayers are unhappy about having to lend Greece money to ease its debt crisis: In effect, they already have.

European Union officials Wednesday were unable to mask their frustration with the downgrade of Greek debt by Standard & Poor's to junk status.

Chancellor Angela Merkel's strategy for dealing with Greece's untenable debt problem was to stall and hope the crisis did not demand action until after a critical state election in early May. On Wednesday, the clock finally ran out.

Europe will eventually grow tired of bailing out its weaker countries. The Germans will probably pull that plug first. The longer we wait to see fiscal probity established, at the European Central Bank and the European Union, and within each nation, the more debt will be built up, and the more dangerous the situation will get. When the plug is finally pulled, at least one nation will end up in a painful default; unfortunately, the way we are heading, the problems could be even more widespread.

Focus on yuan misguided; investment and domestic consumption, not exports, are engines of economy

La actual crisis del capitalismo global no es sólo económica. También lo es moral y jurídica. Por eso, las señales aparentes de recuperación económica son irrelevantes. No sólo por ser manipuladas y engañosas. Sino porque lo fundamental queda fuera. Y es que la crisis ha demostrado nuevamente que el ordenamiento jurídico de los estados no protege ni a los ciudadanos ni a los propios estados frente a la masiva destrucción de riqueza y bienestar que estos mercados pueden provocar y de hecho provocan.

Spain risks falling into the same trap as Greece, these investors say, unless it takes more forceful action. It could find itself unable to raise money on the private markets at acceptable interest rates - even though its government debt burden, as a share of the overall economy, is only half what Greece carries.

Concerns €110bn bailout will not be enough. NYSE 200 points lower; FTSE 100 down 2.5%. Spain's stock market falls 5%; Germany 2%.

Markets fear deal will not cover Greece's borrowing needs. German minister: Greece could need more money. Cost of insuring Greek, Spanish and Portuguese debt rises.

En China, el diseñador Chen Jianjun creó una alternativa complementaria a las altísimas velocidades que alcanzan los trenes modernos, los que deben detenerse en cada parada para tomar y dejar pasajeros, lo que hace perder tiempo y energía al sistema, debido a las frenadas y cambios de rapidez.