News
WSJ | Greek Wrangling Bodes Ill for Lisbon
Portugal has long been perceived as the next-most-likely country to follow Greece's path and restructure its debt, and the tough terms being presented to Greece's creditors have led many in the market to fear the same could come for Portugal, analysts say.
Econ Comments & Analysis
WSJ | An American History Lesson for Europe
In 1789, the political price for our federal constitution included a bailout of the 13 indebted states. But it was by refusing to bail out the states a second time in the 1840s that the United States preserved its federal system, with substantial fiscal independence for state governments. Facing a similar moment, Europe might learn from our experience.
Blogs
Atlantic | Greeks Inch Closer to Default
The negotiations over Greek debt are really pushing the limit. It's been hard enough getting the private creditors--on whom the entire haircut looks set to fall--to accept losses which one person quoted by the FT puts at greater than 70%. But the Greeks are also proving difficult.
CATO | Has Congress Cut Any Spending Yet?
It’s been a year since Republicans assumed control in the House in the wake of the 2010 elections, which were powered by Tea Party concerns about massive federal spending and deficits. With the more conservative House, has Congress made any progress on spending cuts yet?
