Savings rates in deficit countries in Europe had to drop once policy distortions forced up Germany’s savings rate, risking both increased political tension and rising unemployment.
Even if the euro survives, the crisis isn't over until the periphery starts growing and people start finding jobs.
The armed forces, so far, have gotten away relatively lightly among the drastic cuts that have affected health care, transportation, and education.
The global economic outlook for 2012 and 2013 is exceptionally uncertain. With the euro crisis continuing to fester, a global credit crunch, and generalized slowdown threatening emerging markets, it remains unclear where growth will come from.
Greenhouse Gas (GHG) emissions caused by truck transport have long been left unregulated both in the United States and the European Union, but recent U.S. measures are challenging EU lawmakers.
With EU leaders scrambling to keep Greece afloat, rating agencies continuing to downgrade European sovereign credit, banks being pushed to the brink, and Europe likely slipping back into recession, time may be running out for the euro.
Beijing’s relationship with Europe is increasingly complex, with a number of economic arrangements that could compromise European ideals.
Within a generation, developing countries will likely account for six of the world's seven largest economies and dominate world trade.
While the European Union is keen to strengthen its relations with Ukraine, some member states are wary of the lack of democracy and the weak rule of law in the country.
As fears rise over currency clashes, policy makers must confront the challenges of a two-speed global economy where China and other emerging markets are surging ahead while Europe, the United States, and Japan face a number of serious economic concerns.