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The Erosion of Europe

The Erosion of Europe

Just weeks ago, the worst of the financial crisis in Europe seemed to be over. Stability seemed to be returning. But appearances proved to be deceptive. A minor problem (at least in scale) like Cyprus, when combined with an almost unbelievable degree of incompetence among the “troika” (the European Commission, the European Central Bank, and the […]

Promising Gas Fields In Cyprus

Promising Gas Fields In Cyprus

Since the discovery of gas fields some 180 km offshore south of Cyprus in late 2011, the country has been keen to talk up its potential as a future eastern Mediterranean energy hub. For Europe, this and later finds add weight to the theory that the eastern Mediterranean could hold the key to European energy […]

Should Germany Exit the Euro?

Should Germany Exit the Euro?

Last summer, financier George Soros urged Germany to agree to the establishment of the European Stability Mechanism, calling on the country to “lead or leave.” Now he says that Germany should exit the euro if it continues to block the introduction of eurobonds. Soros is playing with fire. Leaving the eurozone is precisely what the […]

Rolling the Dice in Cyprus

Rolling the Dice in Cyprus

The task was never going to be an easy one: impose losses worth about €5.8 -billion on lenders to the Cypriot government and depositors with the country’s banks. And now that effort has led Europe to its latest impasse. In marathon negotiations, the Cypriot government, under the supervision of the troika (the European Commission, the […]

Reinventing the European Dream

Reinventing the European Dream

The euro crisis and the British Queen Elizabeth’s recent Jubilee seem to have nothing in common. In fact, together they impart an important lesson: the power of a positive narrative – and the impossibility of winning without one. Commenting on the Jubilee’s river pageant and horse parade, historian Simon Schama talked to the BBC about […]

The Eternal Wall

Walls designed to keep people in or out – whether they are in Berlin, Nicosia, Israel, or Korea – are always the product of fear: East German leaders’ fear of a mass exodus by their citizens seeking freedom and dignity; Greek and Turkish Cypriot leaders’ fear of continued war; Israelis’ fear of terrorism; or the […]

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