As the European economic crisis once again comes to a boil, many wonder how the Europeans put themselves in such hot water. This is a political crisis on top of an unemployment crisis, which bubbles on top of a fiscal crisis, underneath which is the critical element of an unsustainable…
In 2002, former British Prime Minister Margaret Thatcher warned that building a European Union superstate “will seem in future years to be perhaps the greatest folly of the modern era.” Less than a decade later, she’s being proved right, as the EU faces the biggest crisis in its history. …
Chairman Warner, Ranking Member Johanns, thank you for the opportunity to testify today. My name is J.D. Foster. I am the Norman B. Ture Senior Fellow at The Heritage Foundation. The views I express in this testimony are my own, and should not be construed as representing any official position…
Nile Gardiner discusses Greek austerity measures. …
When President Obama visits Ireland on May 23–24, he is expected to visit Moneygall in County Offaly, the ancestral home of his mother’s family. While finding Irish ancestors is a favorite electoral sport of American leaders, the President would be better advised to spend his time studying the Irish financial…
On November 19, NATO leaders will meet in Lisbon for a formal heads-of-state summit. The dominant issue for the United States will be the adoption of NATO’s new Strategic Concept, the first of the new millennium. However, the Obama Administration should also throw its weight behind further expansion of the…
Abstract: The pretense that the European Union is successful and stable—and that the euro is a successful and stable currency—has been exploded by events surrounding the financial bailout of Greece. No one knows where the contagion will spread or how it may end. The…
Abstract: Long-run federal spending is wildly unsustainable, as almost everyone from right to left agrees. Under President Obama, this long-run problem has been married to an almost equally unsustainable short-run problem of deficit spending. Thus, to watch developments…
This weekend, the Eurozone members and the International Monetary Fund (IMF) proposed a €110 billion ($140 billion) rescue package for the struggling Greek economy. In exchange for imposing tough austerity measures—including a three-year public sector pay freeze, an increase in taxes, and a liberalization of labor laws—Eurozone countries will provide…
Terry Miller discusses the "contagion" of Greece's financial trouble. …
(Archived document, may contain errors) 445 July 18, 1985 UmSm GREECE RELATIONS AN AGONIZING REAPPRAISAL INTRODUCTION Greek Prime Minister Andreas Papandreou has provoked considerable teeth gnashing in Washington and the other Western alliance.capitals since assuming power in 19 81. The lapse in Greek security measures that apparently allowed TWA Flight 847 to be skyjacked…
Last weekend, the people of France took a sharp turn to the left, and the rest of Europe may be on the brink of...…
The European euro/debt/growth/banking/identity crisis is entering its third year. With so many summits, toasts, tense...…
We’ve corrected Paul Krugman in the past, when he mistakenly invoked imaginary British spending cuts as proof that...…
At this point in the Eurozone crisis, the only responsible thing for European leaders to do is to develop contingency...…
Heritage and the Wall Street Journal released the 2012 Index of Economic Freedom on Thursday, ranking 179 countries on...…
Greece continues to dominate the headlines as the country faces an increasingly dire economic situation and now...…
When it comes to crushing debts, unsustainable entitlements and ballooning deficits, Americans and Europeans are all in...…
Speaking to the media this weekend, Secretary of State Hillary Clinton told CBS’s Bob Schieffer that at NATO’s Lisbon...…
It’s difficult to forget the drama—including riots, fires, and even deaths—that unfolded during Greece’s recent fiscal...…
British Prime Minister David Cameron has completed a visit to Turkey with a passionate defense of Ankara’s aspiration...…