Actual Unemployment Rate Is at ‘Great Depression Levels’

U.S. unemployment rates may officially be hovering around 9 percent but in reality, they’re up near the 20 percent levels around the time of the Great Depression, maybe even higher, ...

Greece Government Nears Total Collapse

ATHENS — The Greek government was plunged into chaos on Tuesday and faced an imminent collapse, as lawmakers rebelled against Prime Minister George Papandreou’s surprise call for a popular referendum ...

EU Hopes for Debt Crisis Deal by Wednesday Despite Problems

Act II of the European Summit is going to take place on Wednesday (Act I concluded on Sunday), when the world will see whether the hints about “progress” in stanching the ...

Germany Gives Up, Now Pushing for Greece to Default

Germany is pushing behind the scenes for a “hard” default in Greece with losses of up to 60pc for banks and pension funds, risking a chain-reaction across southern Europe unless ...

Polish Finance Minister Warns of War if EU Collapses

Poland holds the rotating presidency of the European Union, but as the major issue confronting the union is the stability of the euro to which Poland has not switched (for the moment it is ...

The EU and Greece: A 17 Billion Dollar Throw of the Dice

It has been said that statesmanship consists of choosing the lesser evil. The European Union believes that another bailout of Greece is the lesser evil compared to debt restructuring, giving creditors ...

What Happens When Greece Defaults

(By Andrew Lilico) It is when, not if. Financial markets merely aren’t sure whether it’ll be tomorrow, a month’s time, a year’s time, or two years’ time (it won’t be ...

Denmark Deals Another Blow to Borderless Europe

Denmark’s partial reinstatement of border controls on the crossing from Germany and Sweden (by bridge) have probably disturbed the European commission more than the similar restrictions that France imposed on ...

Furious Greeks Press for Country to Default on Debt

Violence on the streets as backlash grows over Greece’s austerity package and €110bn bailout A growing chorus of voices is urging the Greek government to restructure its debt as fears ...

How Long Will the Eurozone Agreement Hold?

On Saturday, process won out over substance in the reaction to the agreement by leaders of the eurozone on measures to combat the European debt crisis. Since there was so ...