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The article discusses the role of the European Central Bank (ECB) in the European financial crisis as of March 2013, with information on the challenges posed by the underlying economic conditions of the eurozone countries. Topics include the insolvency issues in peripheral European economies such as Greece, Ireland, and Portugal, the credit downgrading of the majority of European countries by major rating agencies, and direct lending supported by the ECB to assist countries with the economic and financial restructuring required to solve their debt issues.

The article presents a profile of European Central Bank president Mario Draghi, who was named one of the top global thinkers of 2012 for his efforts to address the European sovereign debt crisis, including the purchase of debts from Italy and Spain and protection of the Euro currency.

Comments on an article by Dorothee Heisenberg and Amy Richmond, published in the 'Journal of European Public Policy,' about two institutions of the European Union, the European Central Bank and the European Court of Justice. Issue of when international institutions gain autonomy from the governments that created them; Topic of bureaucrats using their autonomy to subvert the policies of national governments.

President, European Central Bank | Germany When Mario Draghi, head of Italy's central bank, was mooted to succeed Jean-Claude Trichet as European Central Bank (ECB) president in 2011, two factors [...]

HOW ABOUT THIS for irony: Remember the solid, strong economies of Northern Europe, the ones that signed up for one bailout after another of their less well-off brethren to the [...]

As central banks tread this narrow path, inflation hawks continue to urge that the greater risk lies in accelerating inflation. Despite huge expansion in central bank balance sheets, inflation remained well below the central bank upper limit of 2 percent. In 2021, in the wake of the COVID-19 shock, which threatened not inflation but a gigantic global recession, both the ECB and the Fed adopted new and more permissive inflation targets. The following year in Europe, the agreement to create the eurozone anchored disinflation across the EU, making low inflation secured by the European Central Bank (ECB) into a quasi-constitutional requirement. [Extracted from the article]

THE EUROZONE LIVED TO FIGHT ANOTHER DAY. BUT A NEW BATTLE IS BREWING IS THERE LIGHT AT THE END OF THE Chunnel? Five years after the global financial crisis kicked […]

Merkel herself was careful to present Next Generation EU to German voters as a one-off injection of EU money, justified only given the once-in-a-century pandemic that hit certain EU member states much harder than others. While many praise Merkel's initial burst of magnanimity on refugees, far fewer recognize that she quickly gave up on pressing for a humane common EU migration policy and instead green-lighted an approach in which the EU essentially pays transit countries to hold refugees - often in profoundly inhumane conditions - to prevent them from entering Europe. When the eurozone debt crisis threatened to overwhelm EU institutions, Merkel overcame domestic resistance to negotiate bailouts for the hardest-hit eurozone members, provided political backing for massive European Central Bank liquidity injections, and paved the way for a myriad of new EU institutions, including a sweeping banking union. Features This summer, as the pandemic eases and Europe opens again for business and pleasure, the Merkel era will end. [Extracted from the article]

To tame that risk, the Fed and the ECB, under Yellen's and Draghi's non-economist successors - Jerome Powell and Christine Lagarde, respectively - have adopted an astonishingly undogmatic and expansive approach to stabilization. If there is such a thing as a technocrat, Janet Yellen, the new U.S. treasury secretary, and Mario Draghi, Italy's new prime minister, are it. 2015 Yellen announces the decision to raise interest rates 2021 Yellen becomes U.S. treasury secretary. For the last 30 years, both Yellen and Draghi have held positions of high authority, culminating in the period between 2014 and 2018 when they overlapped as the heads of the U.S. Federal Reserve and the European Central Bank (ECB), respectively, the two most powerful central banks in the world. [Extracted from the article]

The article discusses war on terror and large bank notes. Topics discussed include currency notes used by terrorist organizations in Middle East, printing of 500-euro bill by the European Central Bank and terrorist groups including Islamic States. Other topics which includes logistical operations of terrorist organizations, electronic payment systems and cyberpayments are also discussed. Further, illegal transfer of money, cash usage and electronic money are also discussed. Cash storage is also mentioned.

Identifies the winners and the losers in the implementation of a common currency among European Union countries in 1999. Political roots of the Economic and Monetary Union; Implications of the adoption of the euro; Outlook of the euro. INSETS: The economics of currency unions;Is EMU geopolitical?;The euro in real life;The European Central Bank

The article discusses privatization of ports and telecommunication industry in Cyprus. Topics discussed include bailout received by Cyprus in 2013 by European Central Bank (ECB) and International Monetary Fund (IMF) in 2013, economic efficiency in the country and capital inflows in the country. Other topics such as telecommunication company CYTA and Electricity Authority of Cyprus (EAC) are mentioned.

But this will need a degree of self-discipline that governments - and even central banks - have often struggled to impose in the past: that of avoiding market failures being compounded by failures of public sector institutions and governance. Features Government Unbound UNDISCOVERED COUNTRY THE EXPERIMENTAL ECONOMY A NEW SOCIAL CONTRACT DYNAMIC DIVERGENCE POST-FINANCIAL CAPITALISM The Boring '20s Fuzzynomics AGE OF (RE)DISCOVERY INFANTILIZED LIBERALISM Era of Secular Stimulus AGE OF DEADLY DISPARITIES MANAGED STRATEGIC COMPETITION IN HINDSIGHT, OUR NEW ECONOMIC ERA probably began in 2008, when a handful of bankers - and the policymakers who write the rules - broke the system. Where governments and central banks - at least in rich countries - can throw around money by the trillions and make up the rules as they go along. Technocrats at the world's major central banks urged governments to deploy a robust fiscal response. [Extracted from the article]

Discusses the activities initiated by three central bankers against global recession. Actions taken by United States Federal Reserve Chairman Alan Greenspan; Strategy of European Central Bank President Wim Duisenberg for the crisis; Approach of Bank of Japan Governor Masaru Hayami to monetary easing.

Reports developments in the internet industry in Europe as of September 2001. Role of the internet in reshaping the future study of diplomatic history; Launch of the European Central Bank to educate Europeans about the Euro currency; Issues surrounding the creation of the Internet Corporations for Assigned Names and Numbers.

The article focuses on views of global thinkers to predict what happens in 2021 after COVID-19 pandemic. Topics discussed include COVID-19 represents a complex series of interconnected transnational problems and address issues such as systemic racism, climate change, and the need for a global economic recovery; outgoing Trump administration pulled the U.S. out of the World Health Organization (WHO), refused to join the 172-nation COVAX partnership to ensure equitable global access to a vaccine and nationalism will become a dominant force in the countries where they operate, affecting supply chains.

At the meeting of finance ministers of the eurozone in Luxembourg on Oct. 4, 2021, one prominent regular attendee was missing. Scholz's successor as finance minister, Christian Lindner, the leader of the liberal Free Democratic Party, is more economically orthodox than Scholz - but he will operate in this new, more relaxed intellectual context. As finance minister, Scholz, who is said to be an avid reader of the Italian Marxist Antonio Gramsci, supported a eurozone budget that his predecessors had opposed. [Extracted from the article]

The article reports that a report by the Intergovernmental Panel on Climate Change (IPCC), the world is already past the point at which a drastic turn away from fossil fuels can be avoided, and discusses how central banking system can help in reducing the impact of climate change. Topics discussed include role of leading central bankers and regulators in forming the Network for Greening the Financial System (NGFS), which aims to throw the weight of key financial institutions behind the goals of the Paris climate agreement.

The article discusses the predicted real estate market in Europe. For all twelve countries, the European Central Bank must set one interest rate which will benefit larger economies while smaller economies may suffer. Ireland and Spain need higher interest rates to slow down their housing market. France and Germany need lower rates to stimulate growth.

The article focuses on political leaders and decision makers for various nations in the 21st century. It talks about U.S. Secretary of State John Kerry and his work with high-level nuclear talks with Iran, his efforts to persuade Palestinians and Israelis to relaunch peace talks, and push for a political solution in Syria. It comments on Russian President Vladimir Putin and Foreign Minister Sergei Lavrov whose efforts in Syria have re-established Russia as a global power. It mentions Japanese Prime Minister Shinzo Abe's economic reforms and stimulus which have helped Japan's economy begin to recover.

The article looks at political and economic conditions in Greece, as of June 2013. It notes the country has faced several years of severe recession. The author says that government dysfunction in the country predates those problems, citing problems such as corruption. She expresses the view that the challenge of implementing governmental reforms and the austerity policies demanded under the terms of the country's financial bailouts simultaneously was impossible. Greek Prime Minister Antonis Samaras is discussed. Other topics include the civil service, tax evasion, and the rise in hate crimes and in the popularity of the far-right Golden Dawn party.

The article presents a list of the 500 most powerful people in the world as of 2013, selected by the publication, including Pope Francis, Foxconn electronics manufacturing company chief executive Terry Gou, and evangelical pastor Rick Warren.

The article presents an examination of the balance of power between governments and private-sector organizations, adapted from the book "Power, Inc.: The Epic Rivalry Between Big Business and Government -- and the Reckoning That Lies Ahead," by David Rothkopf.

The article discusses an alleged lack of unity among European Union (EU) member states that weakens the organization's economic and political structures. The author notes the difficulty in describing a distinctly European identity among the continent's disparate nationalities, ethnic identities, and political ideologies. He explains a lack of solidarity among various nations based on stereotypes and distrust. It is also noted that the EU's governing arm, the European Commission, is selected undemocratically.

The article presents profiles of 100 individuals whose thoughts and actions are said to have had a profound effect on world events in 2011. These include several thinkers active in the Arab Spring uprisings of 2011 including Alaa Al Aswany, Mohamed ElBaradei, and Wael Ghonim. Details related to U.S. President Barack Obama, philanthropists Bill and Melinda Gates, and artist and activist Ai Weiwei are presented. Topics discussed include the continuing economic effects of the 2008-2009 global financial crisis, debates over U.S. public debt, and gay rights.

The article discusses the potential change in the global economy. The financial problems of high debts, low credit ratings, and unemployment in European countries such as Ireland and Greece and in the U.S. are discussed. Three global economic trends include deep-rooted problems in advanced economies such as party politics and housing markets, the postponement of dealing with economic problems, and the increase in emerging markets of developing countries. It is suggested that these trends will continue and change the global economic structure.

The article details the historical development of the U.S. financial system which resulted in the global financial crisis of 2008. Some of the subjects considered include the banking crisis of 1929 which led to the Great Depression, the establishment of deposit insurance in 1933, the institution of banking regulations to avoid moral-hazard problems, and the role of monetary policy in central banking. The reactions of Federal Reserve Chairmen Alan Greenspan and Henry Paulson to financial crises are compared and analyzed.

The article discusses negative interest rates in economics. Topics discussed include report released by ratings agency Fitch Ratings, interest rates on sovereign bonds and economic growth in United States. Other topics which includes monetary policy of central banks, financial crisis and global economic outlook are also discussed.

The article discusses how the U.S. economic downturn is likely to worsen and spread to other countries. Likelihoods discussed include global trade slowdown, the declining value of the U.S. dollar, the bursting of world real estate bubbles, falling commodity prices, and faltering financial confidence. Central bank responses to the volatility are also discussed INSET: Want to Know More?.

This article offers the opinion of the author on the European Union and says it is not the global powerhouse it would like to think it is. The author disputes the claim that Europeans are good global citizens and offers examples of why he thinks so. He addresses the claim that Europeans are lazy but says they might be right in believing it is more important to work to live rather than living to work. According to the author there is no such thing as the European economy.

The article presents the author's views on the theory that the global commercial airline industry is doomed, as a result of bankruptcies, terrorism and high oil prices. It is the author's view that the global economy cannot function without air travel. It is suggested that a complex mix of factors has led to the industry's current state of financial crisis, but that the crisis can be remidied. Safety statistics related to the commercial airline industry are reviewed. According to the author, airlines do not need handouts, special treatment, or government subsidies in order to survive.

The article proposes that a fiscally responsible United States, in which it addresses its budget deficit, would upset the world's economic stability. The U.S. budget deficit may not fill an audience in Europe or Asia with the sort of fear, loathing, and hysteria that other U.S. President George W. Bush initiatives are known to induce, yet it may have the most direct impact on world politics of all Bush's policies in the next four years. Any success the United States has in reining in its mounting budget and trade deficits will have repercussions everywhere. In particular, three of the world's most important economic drivers--Europe, Japan, and China--will be required to adjust their policies in response, and those policy changes will, as always, produce winners and losers in a volatile political mix, with potentially serious implications for all three. A reduction in the U.S. fiscal deficit should help stabilize international capital flows, halt the dollar's slide, and boost exports of economic partners. But, in the here and now, the political costs will be brutal--and not mainly for Americans. If the United States is to halve its fiscal deficit in the next four years, it would remove a sizeable chunk of money from the global economy that has driven global growth these last four years. INSET: Want to Know More?.

Addresses issues concerning the emergence of global authorities. Views of United Nations Secretary General Kofi Annan on global leadership; Advocates of sovereignty; Reaction of the United States to the creation of an International Criminal Court.

Discusses the selection process for managing director of the International Monetary Fund. Creation of organizations prompted by the advances in communication; Views on the significance of the role of leaders; Statutes governing the selection of top executives by international organizations; Deficiencies in the system of organizations; Factors contributing to the increased importance of global institutions.

Discusses the consequences of the reduction of restrictions on trade and cross-border investment. Trends that should be evident if economic globalization causes a race to the bottom in regulatory standards; Information on the book `Jihad vs. McWorld,' by Benjamin Barber; Implications of the race-to-the-bottom myth.

Examines the effects of a sudden collapse of the stock exchanges in the United States on economies around the world. Economic conditions in the U.S.; Effects of the decrease in asset prices on the overall economy; Ways to counter economic recession; Role of government in a financial crisis. INSETS: A Crash Course for Central Bankers;Want to Know More?.

Discusses the management of currencies. Views on the causes of the financial crises in relation to currency; Information on how the government can control the exchange rate; Discussion on the forms of exchange rate systems; Problems concerning an international or supranational currency. INSETS: A Guide to Exchange Rate Regimes;Strange Bedfellows.

Presents information on international relations. Views of French writer Francois Rene de Chateaubriand; Opinion of economist Adam Smith; Opinion of philosopher Johann Gottfried.

Analyzes the world economy. Benefits from Third Way which promises to chart a path between market liberalism and social justice; Impact of the Asian economic crisis on the relationships between the United States (US) and Asia and Europe; Policy differences between the US and Asia and Europe; How the US sees free capital movement.

Discusses the use of English language in almost all forms of media. Global supply and the demand for English instruction; Cause of the continued spread of English; How the increased regional communication and migration are driving regional language spread around the world. INSETS: Do you speak European?;www.english-everywhere.com.

Focuses on the plan to create a monetary union in Europe. American attitudes toward the plan of the European Union to create a monetary union; Reasons for the implausibility of monetary unions; Advantages of creating a common currency; Challenges to be faced by the United States and the preparations it should make.

Contends that without a common enemy, Europe and America are coming unglued. The war in the former Yugoslavia is the most potent sign of the breakdown between America and Western Europe. Latest rift deeper and more fundamental; Shift in American views of Europe will complicate the process of integrating the continent's eastern half into a peaceful, workable Europe; American view of the European Community in practice is ambivalent; The view from Europe.

Looks at Germany, three years after reunification and four years after the fall of the Berlin Wall. Current economic problems; Widespread disenchantment with politics; Xenophobia; Immigration reform; Police inaction; Challenges ahead; Debate over expansion of Germany's international military role; Relationship with United States.

Reports that when the Berlin Wall came down, a new day dawned in Central Europe. How the bright promise has given way to apprehension; Maastricht Treaty on European Union; Sovereignty gap; European Community's (EC) failure to act on Balkan crisis; Hyper-nationalism versus democracy; Problems within Germany; Relationship with United States; Priorities for Clinton administration.

Examines the continuing plans towards the formation of the European Community, which are somewhat over-looked in favor of the reforms in Eastern Europe. December 1989 summit of European Community leaders; Need for stability; Effects for the United States; Creating a single market.

The article examines the ways in which slight increases to inflation can help alleviate the effects of the early 21st century global economic recession. The author explains that inflation will reduce real debt if monetary policy promotes low interest rates. He believes this is particularly true for areas with large amounts of household debt, such as the U.S. and Europe. The monetary policy of the U.S. Federal Reserve and the Eurozone debt crisis are also commented on.

Comments on an issue of the quarterly journal 'Economic Systems,' which discusses accession to the European Union (EU). Discussion on the adoption of the euro as the single European currency; How East and Central European economies should develop their monetary policy in consideration of EU membership

Presents information on Europe. Its foreign economic relations with the United States; Comments on the ethnic cleansing in Kosovo, Serbia; Challenges confronting the continent.

Introduces a series of articles presented in `Foreign Policy' which deal with nonstate personalities who influence the national sovereignty of other nations. Opinion on globalization; Views on the proliferation of centers of international influence.