Rescue Sinks Greece Further

Greece has started unravelling its civil sector further in an attempt to persuade the Troika - the European Central Bank, the International Monetary Fund and the European Commission - to commit more bailout money by next October.

Even Death Feels Weight of Crisis in Spain

Even in death, people in Spain cannot escape the economic crisis. Funeral services carry the highest VAT (value added tax) rate, alongside entertainment like nightclubs, and luxury products.

Bulgarians Set Out to Overhaul Politics

For more than six weeks now, Bulgarians have been on the streets demanding an end to oligarchy and corruption.

Spain’s New Squatters

"You live there for free, don't you?" asked a woman as she passed by the Buenaventura "corrala", a community in a building in this southern Spanish city occupied since February by families evicted from their homes for falling behind in their mortgage payments due to unemployment.

Q&A: “Angela Merkel Is the Decider of Our Fate”

“Who do I call if I want to call Europe?” This famous question attributed to former U.S. secretary of state Henry Kissinger has an obvious answer today: Angela Merkel, the conservative German chancellor.

Economists’ Fantasies, Planetary Nightmares

While debating a high frequency trader recently, I encountered the familiar rationalisations that high frequency trading (HFT) contributes to liquidity and price discovery in markets. Assertions about liquidity are hard to justify after the “flash crash” of May 6, 2010, where the “faux liquidity” of HFT disappeared when needed and the traditional market-making obligations of the old specialists were absent.

New Cooperatives Form Part of Cuba’s Reforms

More than 100 non-farming cooperatives this month joined the independent sector of the Cuban economy, which includes self-employed workers and farmers granted public land to work, as part of the policy outlined by the government for modernising the management of state property.

Pray Again to St. Precarious

It didn’t take the financial crisis for hundreds of thousands of workers across Europe to protest the new plague of the labour market – precarity. But the financial crisis has only made it worse.

A New Bretton Woods, to Prevent Future Crises?

Almost five years have passed since the global financial crisis, and the world economy is still reeling from its consequences. The main reason for this is the continued stagnation in developed countries, which is adversely affecting economic dynamism in other regions.

Europe’s Youth Count Ten Times Less than Its Banks

At the last summit of European heads of state held in Brussels at the end of June, the main theme was youth unemployment, which has now reached 23 percent of European youth (although it stands at 41 percent in Spain).

Donations Sound the New Note

The global economic crisis has not hit Serbia for the first time, but this year it has bitten into Serbian culture. State subsidies for theatres, festivals, films and exhibitions have almost hit the bottom. State support for films is down to zero.

Media Scholars Decry Financial Crisis, Call for Action

Communications scholars from around the world deplored the global financial crisis and called on their peers to take more active roles in the search for solutions at a recent four-day conference in Dublin, Ireland.

Tunisia Now Searches an Economic Spring

Nearly two-and-a-half years since the toppling of the autocratic regime of Zine el-Abidine Ben Ali in the first regime change of the now famous Arab Spring, the high expectations of change to come with the revolution have hardly been met.

New Faces of Social Unrest in Spain

Economy professor Arcadi Oliveres has become a popular face of the growing discontent in Spain because he calls a spade a spade.

If Not Quantitative Easing, Then What?

It took world leaders some time to realise that the financial crisis initiated by the collapse of the subprime mortgage segment of U.S. financial markets in 2007 would not exhaust its effects in an ordinary recession.

Global Publics See Climate Change, Financial Issues As Top Threats

Climate change and international financial instability top a list of seven concerns that publics around the world consider "major threats" to their countries, according to the latest polling of global attitudes by the Pew Research Centre here.

Cancelling Fare Hike Fails to Quell Brazil Protests

Children of a generation that fought for basic rights like having enough to eat, learning to read and being treated in safer hospitals, the over 300,000 students protesting on the streets of Brazil want more from a democratic and economic system that no longer represents them and is beginning to show its limitations.

Rebuilding Zimbabwe’s Health System

A newborn baby lets out a feeble cry as midwife Anna Mungara tends to a small wound on its head, at the provincial hospital in Masvingo, a town in southeast Zimbabwe.

U.S. and Rest of G8 Won’t Follow UK on Corporate Transparency

The United States is being singled out for criticism after the Group of Eight (G8) rich countries failed to adopt a plan pushed by British Prime Minister David Cameron to require the creation of public country-level registries with detailed information on corporate ownership and activity.

Entrepreneurs Seek Way Out of Crisis in Spain

The people in the textile factory where Lourdes Soler presented the design of her skirts had never seen such detailed “blueprints” of a garment. Spain’s depressed labour market forced the technical architect to reinvent herself and create her own job – a growing trend in this crisis-stricken country.

Legal Pressure Increases on Unpaid Internships in U.S.

A landmark court decision this week has challenged the controversial existence of unpaid internships, highlighting calls for greater clarity on the legal definition of an internship.