The Middle Passage

The Middle Passage

Peter, a Sierra Leone migrant living in Hungary, is one of the lucky ones. He has a job. He has a supportive community of friends. After seven years in the country, the Hungarian government approved his application for asylum. He started a very successful NGO devoted...
Explaining the Cyprus Shakedown

Explaining the Cyprus Shakedown

In June 2012, the Cypriot government requested a bailout after its two largest banks took massive losses—around 1.6 billion euros—on Greek government bond write-downs. In order to remain solvent, it was determined that Cyprus needed 17 billion euros in...
European Tax on Financial Transactions Gains Support

European Tax on Financial Transactions Gains Support

The leaders of France and Germany may have their differences on the big question of the day — stimulus versus austerity. But they do agree on one thing — taxing financial transactions. Former French President Nicolas Sarkozy was hot on the idea of a small...
Germany’s Social Democrats and the European Crisis

Germany’s Social Democrats and the European Crisis

Germany towers over Europe like a colossus. Its economy is the biggest in the European Union, accounting for 20 percent of the EU’s gross domestic product. While most of Europe’s economies are stagnating, Germany’s will have grown by some 2.9 percent...
Europe Taking Lead on Speculations Tax

Europe Taking Lead on Speculations Tax

Out of the ashes of the 2008 financial crisis, an idea that progressives have been kicking around for decades – a financial transactions tax (FTT) – took on new life. There were high hopes that the G-20, which had declared itself the “premier forum...
Climate Change Flap at the G8

Climate Change Flap at the G8

The headlines in the lead-up to the Group of Eight (G8) meeting here in Rostock have focused on the dispute over the proposed declaration on climate change. German Chancellor Angela Merkel wants the rich countries to commit to limiting global warming to two degrees...