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Greece and its European partners are now expected to reach a new, long-term deal for the country’s financing by June. Given the dire state of the Greek finances and its continuing exclusion from bond markets, this agreement could take the form of a third bailout reaching 30 billion euros.
It has been clear for a long time that China's rate of economic growth would eventually decelerate for a number of reasons.
Talk of overturning austerity aside, Greece still needs the last 7.2 billion euro installment of the bailout to cover its financing gap. For the time being, then, the new government will need to abide by the program’s requirements—that is, the very combination of austerity and reform that Syriza has pledged to overturn. This may be enough to break the party.
The agreement reached between the Obama administration and the Cuban government is by any measure historic, necessary, and overdue. Yet as the diplomatic rubber hits the road and Cuba continues its precarious transition to a mixed economy, old disputes may take on new forms.
Abe’s economic revival is hardly going as planned. A consumption tax hike that he introduced in April triggered a recession over the following six months, prompting him to announce the delay of a second planned hike and to vow to dissolve the Japanese parliament.
Last week, Obama finally stepped up to the plate, releasing a video and a detailed plan calling on the FCC to adopt the “the strongest possible rules to protect net neutrality.” It was the most accurate, well-informed, and important statement ever issued by a public official on the topic of Internet freedom.
Obama's executive order will provide much needed humanitarian relief to some law-abiding undocumented immigrants. But it will do nothing for the unaccompanied minors and families whose desperate flight to the United States last summer may have finally pushed the White House to act.
Late last week in Minsk, negotiators representing Ukraine, the separatist forces, and Russia agreed to a ceasefire. If this deal holds -- plenty of earlier ceasefires have fallen apart as soon as they were signed -- then the active phase of fighting in eastern Ukraine will have come to end on terms favorable to Russian President Vladimir Putin.
Earth Overshoot Day is the date on which humanity’s demand for natural resources exceeds the earth’s ability to renew them in a year. Last year, we hit that mark on August 20. This year, it comes one day earlier. For the remainder of 2014, in other words, we will be living beyond our planet’s means.
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