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Much of this unwanted catch will likely be sold to fish farmers to feed high-value fish like salmon.

though there are no legally binding targets for rebuilding fishing stocks.

How to enforce the new discards law is also under debate. Installing video cameras on all vessels or employing observers to ensure fisherman follow the law has been proposed, but nothing yet has been settled. "We do not have the resources for this kind of enforcement,

Organizations notes that Norway—which, along with Iceland, is one of two non-EU nations to ban discards—took 20 years to eliminate them.

From a standing start, China now has 12% of graduates in the world's big economies - approaching the share of the UK, Germany and France put together. The incumbent superpower, the United States, still towers above with 26% of the graduates.

they would help inoculate European economies against the adverse effects of energy disruptions in the medium term.

Consideration should be given to invoking GATT Article XXI, which provides exceptions for national security reasons from rights and obligations under the World Trade Organization (WTO), for example. Invoking this WTO exception would allow across-the-board actions against Russia without prior notification or even justification. The national security exception of Article XXI is that broad. In brief, the United States and the European Union could remove in one step all the WTO benefits they accorded Russia when it acceded to the WTO in August 2012. Doing so would disrupt bilateral trade and investment, possibly kicking tariffs back up to Smoot-Hawley levels of the 1930s.

a country that runs a trade surplus is, to use the old phrase, beggaring its neighbors.

It shares a currency with its neighbors, greatly benefiting German exporters, who get to price their goods in a weak euro instead of what would surely have been a soaring Deutsche mark. Yet Germany has failed to deliver on its side of the bargain: To avoid a European depression, it needed to spend more as its neighbors were forced to spend less, and it hasn’t done that.

They consider their country a shining role model, to be emulated by all, and the awkward fact that we can’t all run gigantic trade surpluses simply doesn’t register.

Europe depends on Russia for about 40 percent of its imported gas, most transmitted through Ukraine.

The appearance of imported cheap liquefied natural gas on the European market from Qatar and reduced demand have already led Gazprom to negotiate cuts of about 10 percent in contracts with Western European utilities,

The country should also use its political clout to convince its partners and Brussels to implement a European reform agenda that targets investment and growth.

This is sheer nonsense. Does anyone in their right mind think that any country would willingly put itself through what Greece has gone through, just to get a free ride from its creditors? If there is a moral hazard, it is on the part of the lenders – especially in the private sector – who have been bailed out repeatedly.