Global Economy

Crippled eurozone to face fresh debt crisis this year, warns ex-ECB strongman Axel Weber

Harvard professor Kenneth Rogoff said the launch of the euro had been a "giant historic mistake, done to soon" that now requires a degree of fiscal union and a common bank resolution fund to make it work, but EMU leaders are still refusing to take these steps.

"People are no longer talking about the euro falling apart but youth unemployment is really horrific. They can't leave this twisting in wind for another five years," he said.

Poland’s Eurozone Tests

As long as eurozone debts continue to rise and member economies diverge rather than converge, prospective members should also be stress-tested to see if they can withstand external shocks and sustain the membership criteria over the long term.

Rather, Poland simply combines low costs (including wages) and high-quality production.

German Judges Refer E.C.B. Bond-Buying Plan to European Court

Long-Haul Expansion by a Norwegian Carrier Upsets U.S. Airlines

Nonetheless, the threat of a full-fledged currency, sovereign-debt, and banking crisis remains low, even in the Fragile Five, for several reasons

Ukraine: Running in Place

Corruption is simultaneously a cause and symptom of this situation. According to Transparency International’s 2008 Global Corruption Report, higher education is widely considered one of the most corrupt spheres in Ukrainian life. The report cites a survey conducted the previous year by Management Systems International and the Kyiv International Institute of Sociology in which 47.3 percent of respondents said a bribe was demanded up front in their dealings with universities, while 29 percent said they gave a bribe on their own initiative.

Many teachers, from the primary to the university level, received their formal education 10 or 20 years ago and have not updated their qualifications since. There is no movement to force teachers at any level to update their skills.

List of International Organization for Standardization standards

World Bank Blogs

Designer Seed Thought to Be Latest Target by Chinese

An Aggressive Climate Initiative

Industry and Foreign Trade Classification Materials

North American Industry Classification System (NAICS)

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Severe Drought Has U.S. West Fearing Worst

Talking Troubled Turkey

probably because most countries placed restrictions on cross-border capital flows, so that international borrowing and lending were limited.

a bigger version of the same story unfolded in Asia: Huge money inflows followed by a sudden stop and economic implosion.

Ukraine Is Caught in a Tug of War

A Mafia Legacy Taints the Earth in Southern Italy

Camorra

One environmental group estimates that 10 million tons of toxic garbage has been illegally buried here since the early 1990s, earning billions of dollars for the mafia even as toxic substances leached into the soil and the water table.