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On Germany’s coast, for example, an estimated $1.3 billion went into revitalizing ports and factories to serve the industry, creating about 10,000 jobs. But demand frequently drops off when projects stall, at times leaving factories in coastal towns like Cuxhaven, on Germany’s North Sea, sitting idle with hundreds of workers laid off.

Recent

In the short to medium run, increasing Greek competitiveness requires remedies targeted at specific binding constraints faced by exporters. A Greek program that identifies these constraints and proposes remedies would be much better economics than blind adherence to the troika's laundry list of structural reforms.

Homeowners in Poland Borrowed in Swiss Francs, and Now Pay Dearly

Greece threatens tilt to Russia and China unless Europe yields

Greece's radical new government has threatened to seek money from Russia and China to avert a financial crisis rather than yield to austerity demands from Europe,

the defence minister

Why the euro crisis still isn’t over, in 1 chart

So why hasn't Europe gotten a real — or any — recovery? Well, it's the debt, stupid.

Every euro that the private sector spends on paying back what it owes is a euro that gets sucked out of the economy.

Kiev Struggles to Break Russia’s Grip on Gas Flow

Dubai, Once a Humble Refueling Stop, Is Crossroad to the Globe

Five years ago, the global credit crisis brought Dubai near bankruptcy. But the city has recovered its drive, helped partly by a $10 billion bailout from neighboring Abu Dhabi, and a return of investors from the Middle East and Eastern Europe

Dubai’s success has rattled its rivals, particularly airlines in Europe and the United States, which have complained that traffic was being siphoned from their hubs.

Officials say Johnson South Reef, which China seized in 1988 after killing about 70 Vietnamese soldiers or sailors in a skirmish, is the most developed of the islands so far.

Work Like a German

In the German job-share model (known as “Kurzarbeit”), if an employer cuts an employee’s hours so that income is reduced by more than 10 percent, the government compensates workers for a large portion of wages lost. This enables companies to cut costs during downturns without having to lay workers off.

For the long-term unemployed who take significantly lower-paying jobs (typically, at minimum-wage levels), the unemployment benefits could offer stop-loss insurance to put a floor under their losses.