Commission of European Communities
Images of African immigrants rioting in the streets of a small southern Italian city, throwing rocks, blocking roads, and breaking store and car windows, briefly exposed a shocking reality: the existence of Italy’s growing migrant-labor population, mostly Africans, an estimated 20,000 of them working under inhuman conditions, living in abandoned buildings or improvised structures without heat or working toilets, sleeping four (even five) to a mattress while laboring off the books for about $30 a day. Early January’s revolt was sparked by an incident in which a couple of local residents from a
Otherwise-obscure central bankers spent an unprecedented amount of time in the global limelight last year. As the crisis brought down not only banking behemoths, but also macroeconomic axioms, the expansionary measures enacted by the Fed’s Ben Bernanke, the European Central Bank’s Jean-Claude Trichet, and the Bank of England’s Mervyn King have been credited, at least for now, with preventing a second coming of the Great Depression.
KIEV–Like many Ukrainian politicians, prime minister and presidential candidate Yulia Tymoshenko relies on fortune-tellers and TV psychics to bolster her embattled spirit. Several years ago, one such mystical specialist compared birth years, personality types, and other intimate details to confirm what Tymoshenko had suspected since the 1996 release of the movie Evita.
Jews usually go out to the movies on Christmas ... and then they go out to eat "Chinese." I've spent it writing. Below is my harvest. I wish you all good cheer. Here are the motifs of my writing day. Alas, none of them cheery. 1. THE REAL GRIM REAPER: HOLY DAY VICTIMS IN IRAQ AND PAKISTAN 2. COLD COMMON SENSE ABOUT IRAN FROM, MIRABILI DICTU, "THE NEW YORK TIMES" 3. A WISE EUROPEAN FOREIGN MINISTER: "WE SHOULD SHUT UP ABOUT THE MIDDLE EAST" 4. A SOBER "TIMES" PIECE ON ISRAELI MILITARY DOCTRINE 5.
In the popular imagination, the United States and Europe are assumed to be radically opposing poles--"Mars" and "Venus"--on issues such as market regulation, public education, social policy, health care, crime, and the environment. But is that really the case? The numbers would suggest otherwise. My book, The Narcissism of Minor Differences: How America and Europe are Alike, presents quantifiable data on a wide array of social conditions on each side of the Atlantic.
With no signs of cooperation from Tehran and Obama's year-end deadline approaching, the administration is pushing for new sanctions against Iran starting in January. For a better understanding of the sanctions situation, check out these recent TNR pieces: In "Over a Barrel," David Makovsky and Ed Morse argue that the current sanctions being considered are unlikely to have much effect: The only effective option for seriously limiting its gasoline imports is to impose a naval blockade on Iranian ports, which should only be undertaken, if needed, after proper and complete preparation.
It usually takes some effort to unpack China's various climate pledges, and this latest one is no exception. Last week, Beijing declared that the country would aim to reduce its carbon intensity by 40 to 45 percent by 2020. This doesn't mean China's overall emissions will drop, it just means that CO2 emissions per unit of GDP will decline. Because China's economy is growing at such a torrid pace, overall emissions will keep ticking upward—it's just that the rate of growth will slow.
Officially, the only news coming out of Dubai on Sunday was that the central bank of the United Arab Emirates, the seven-state federation of which Dubai is a part, will extend ample credit to banks in Dubai. That should avert a series of runs now that it's pretty clear Dubai's banks have piles of bad loans sitting on their balance sheets. But, of course, no one's *that* interested in the local financial sector in Dubai (spectacular though its collapse may be).
Today the European Union finds itself with two new top leaders--Herman Van Rompuy, the EU’s first president, and Catherine Ashton, the new high representative of foreign policy. If the names are unfamiliar, you’re not alone.
There's a fairly basic question about climate policy that gets asked a lot: Can a cap-and-trade program actually cut carbon-dioxide emissions? Set aside the question of cost and the endless debate over whether a mythical carbon tax would be sleeker. Can a cap on carbon actually do what it's supposed to do? Right now, the best example of an up-and-running cap-and-trade system is in Europe. And, for years, the continent was seen as a hopeless failure at cutting emissions.