So it looks like Greece will dodge a default, at least for now. The Greek parliament passed a new $4.4 billion austerity package on Sunday, which includes a painful 22% cut in the minimum wage and 150,000 public sector job …
I just landed in Rome for some on-the-ground reporting on the latest twists and turns in the euro-zone debt crisis, and I immediately got some sound insights from our reporter here, Stephan Faris. Faris watches the situation in …
One of the challenges of covering the World Economic Forum at Davos as a journalist is making sense of the whole thing. The forum is days and days of wandering conversations and endless debates on just about every subject you can …
As my train pulled into the station at a snow-covered Davos a few days ago, I was prepared to be cynical. I’d had dinner the night before with an old friend, a former chairman of a major American company, who was usually a …
In a world economy gripped by fear and smothered in uncertainty, I managed to meet someone here able to shine a bright light through the gloom – Steve Ellis, worldwide managing director of consulting firm Bain & Co. Sure, we …
The weather in Davos has offered a perfect setting for this year’s World Economic Forum. Heavy snowfall has made simply keeping your footing a difficult challenge; one ill-timed misstep on the ice could easily send you head …
As the global economic crisis enters its fourth excruciating year, just about everybody who can be blamed for the downturn has been blamed. Irresponsible bankers. Greedy corporate executives. Incompetent regulators. Bickering …
In a recent special issue of TIME, I argued that India would eventually overtake China as the world’s premier emerging market. It’s a prediction that often produces snickers. How, skeptics ask, can India’s fractious …
Credit rating agency Standard & Poor’s dropped another market-rattling bombshell on Friday when it downgraded the long-term rating of nine – yes, nine – euro zone countries. France and Austria lost their coveted AAA status …
Just the fact that I’m asking this question shows how bad off the 17-nation currency actually is. As the euro-zone debt crisis enters its third, uncertain year, the euro could face its biggest challenge yet. Italy’s bond …
More than three years have passed since the onset of the 2008 financial crisis, and the economic downturn feels like it may never end. Optimism had run high that 2011 would see a sustainable economic upswing. But those hopes were …
I was recently in a tiny group of islands in eastern Indonesia called the Bandas, remote even by the standards of that far-flung archipelago nation. They are the ultimate storybook stereotype of the isolated, tropical paradise …
