Greek Debt Poses a Danger to Common Currency

As economic indicators have improved, concern about the financial crisis has abated. But the next big problem could be approaching. Greece's public deficit is skyrocketing and the country may become insolvent. The effect on Europe's common currency could be dire. Read the complete article in Der Spiegel International Edition here.

Falling Dollar Pushes Manufacturing Out of Europe

Production jobs have been moving out of Europe for years. But as the Daimler decision last week to move C-Class production to the US shows, the process is accelerating as the dollar becomes weaker. Companies from Airbus to ThyssenKrupp are opening factories in America to improve their bottom lines. Read the complete article in Der Spiegel International here.

Islam and Switzerland: The return of the nativists

Read the complete article in The Economist here.

A Chinese wind-power IPO

CHINA’S biggest producer of wind power, China Longyuan Power, is in essence a staid regulated utility. It buys turbines, erects them and sells the electricity they generate to China’s power distributors at prices fixed by the state. So why is its initial public offering next week on the Hong Kong Stock Exchange generating such excitement? Read the complete article in The Economist here.

Keynes in reverse

As more states resemble California, they threaten economic recovery. Read the complete article in The Economist here.

The Non-Public Option

Read the NYTimes' editorial here.

China’s Economic Power Unsettles the Neighbors

China has long claimed to be just another developing nation, even as its economic power far outstripped that of any other emerging country. Now, it is finding it harder to cast itself as a friendly alternative to an imperious American superpower. For many in Asia, it is the new colossus. Read the complete article in the NYTimes here.

For Global Finance, Global Regulation

Europe led the way last year in facing down the global financial crisis, restructuring our banking system and strengthening the global financial system. The European Union was also at the forefront in calling for a new forum for economic cooperation of G-20 leaders. And from the outset of the crisis, it was Europe that promoted the fiscal stimulus—and sought to coordinate it globally—that has been a major factor in preventing recession becoming a world-wide depression. Read the complete opinion piece of Gordon Brown and Nicolas Sarkozy here.

A border tax to protect the global environment?

The costs and benefits of carbon tariffs have been extensively discussed in terms of competitiveness and carbon leakage. This column says global welfare should be the focus. EU tariffs against developing country exports would increase global welfare and the proceeds from the tariff could help poorer exporting countries reduce the carbon intensity of their economies.

Read the article from D. Gros on Vox.eu here.

Kick-starting the green innovation machine

Mitigating climate change while maintaining economic growth will require a wide portfolio of technologies. This column says too little has been done to turn on the “green innovation machine”. It says governments in developed economies should price carbon, subsidise research, and facilitate technology transfer to developing countries.

Read the article from P. Aghion on Vox eu here.