“Having chosen a hard line, Finance Minister Wolfgang Schäuble led us to believe that we would benefit without Greece in the Eurozone, that this would cost us less. I believe that this is a distorted view. It is not right morally, as this would be the beginning of decline. No one will know what would happen next. Germany has taken a leading role in Europe, but it’s not at all a positive role in this case,” Austrian Chancellor Werner Faymann told the Austrian national daily...
Variations on a Theme of Crisis
Since fall 2008 EU countries’ financial and economic systems have clearly been subject to a series of severe shocks. In most cases, the conservative and liberal-leaning governments are trying hard to overcome the crisis by relying on a combination of economic incentives and reduced government expenditure, in particular in the social sphere. In some EU countries, these measures have failed, for a number of years now, to revitalize the economy, while in others...
The falling funding levels for international development in 2011 as a result of the global economic crisis is both a challenge to international aims of reducing poverty and a stimulus for the debate on the future of the international architecture for development assistance.
Lower Development Assistance Budgets: Necessity or Strategic Blunder?
In October 1970, the United Nations General Assembly adopted Resolution number 2626,
International Development Strategy for the Second United Nations Development...
In the zone of political and economic turbulence
Under the Greek question mark
Depending on the outcome of the elections in Greece (the elections may determine whether the country will remain in the euro zone, or leave it with the likelihood of a domino effect), the G-20 leaders may have to assume the role of a fire brigade and urgently develop a new rescue plan for the euro zone.
The upcoming G-20 Summit, which will be held in Los Cabos, Mexico, will take place under a very difficult background...
