Venezuela is one of a handful of petrol states that imagined they could live it up forever off crude oil cash. After oil prices sank, decades of neglecting agriculture has now left a nation literally starving.
Tag: crisis
-OpEd- SAO PAULO — Donald Trump is horrifying. Still, there’s a part of his package that could be quite useful to have in Brazil. I’m referring to the president-elect’s threats against General Motors, Ford and Toyota to try and force them to bring back factories installed in Mexico to the United States. It’s true that […]
We can be judged by our own strength, but also by the relative strength of our adversaries. Donald Trump’s victory in the U.S. election was also the defeat of Hillary Clinton, and all of what she represented. Last night’s unprecedented announcement that embattled French President Francois Hollande would not seek a second term will no […]
-Analysis- PARIS — Long live the people! For a few months now, referendums have been blooming all over Europe. In Britain, to decide whether or not to leave the European Union. In Hungary, to ban European Union refugee-sharing quotas. In the Netherlands, on the EU’s pact with Ukraine. Now in Italy, Prime Minister Matteo Renzi […]
Britain’s decision to leave the EU is having a ripple effect on the island nation of Cyprus, where ex-pats and tourism operators are already feeling the pinch. But there may be a more long-term windfall in the finance industry.
Global warming, population booms, rising urbanization, industrialization — an explosive mixture that may make water supplies the world’s new spark for armed conflict.
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It Is A ‘No’ For Rajoy
Spain’s political crisis has deepened, after the country’s acting prime minister, Mariano Rajoy, lost a parliamentary bid for a second term in office. “84 times no,” daily newspaper La Razón wrote on its front page, referring to the socialists who refused to back Rajoy’s attempt to stay in power. The leader of the opposition, Pedro […]
Libya is where refugees now gather to attempt the perilous crossing to Europe. But Egypt is often the source of both crafts and crews. Only economic solutions can stop human smuggling.
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Extra! Is Iran-Venezuela Love Affair Over?
The regimes of Iran and Venezuela may have been great chums and eager members of the anti-imperialist camp over the past decade. But the current in Caracas, where food shortages and clashes are rising, is prompting some finger-wagging in Tehran. “We Want Food — Venezuela’s Economy A Step Away From Total Collapse” read the front […]
El Nacional, June 9, 2016 Venezuelan daily El Nacional on Thursday features front-page clashes linked to the country’s ongoing food shortages. “Local Supply and Production Committees (CLAP) will control 70% of food staples,” reads the lead headline of the Caracas daily that is close to the opposition. The headline refers to the policy touted by […]
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Greek Austerity Back On Front Page
Ta Nea, May 9, 2016 As a three-day general strike that paralyzed large parts of Greece ended Sunday, the leftist government of Alexis Tsipras won a Parliamentary vote to bring about tough austerity measures. “Hostages of Syriza’s austerity,” headlines Athens-based daily Ta Nea in its Monday edition. Over the weekend, outside the Parliament in Athens, […]
Venezuela’s economic woes are depriving the socialist regime of its remaining popularity, even as the government uses every constitutional and political trick up its sleeve to block the opposition’s ascent to power.
Paralyzed by scandal and the threat of the president’s impeachment, Brazil can only be governed successfully with new — and irreproachable — leadership.
ASSAD CALLS FOR UNITY GOVERNMENT Syrian President Bashar al-Assad reiterated calls yesterday for opposition members to join him in forming a national unity government, a prospect opposition leaders have rejected. In an interview with Russian news agency Ria Novosti that comes days after the government’s recapture of Palmyra, Assad said that the main goal of […]
GENEVA — Imagine a banker getting on a helicopter loaded with bank notes and flying over the whole country, raining money down on the population. This idea came from none other than Milton Friedman. In the late 1960s, as the economy was struggling, the iconic American economist believed that people would jump on the falling […]
A feeling has spread through the popular consciousness: The collapse is near, we’re living on the edge of implosion. But there is another way to look at our complicated world.
What the World Health Organization has declared a global public health emergency is being met with inept government reaction. The enemy is a mosquito whose existence was once under control.
More than eight years after the beginning of the financial crisis, U.S. banking groups are dominating the financial world more than ever. This leadership has technical, political and legal grounds. But it also relies on one quintessentially American quali
OSLO — Global oil prices are falling again this week, having dipped below $30 for the first time in 13 years. In oil-dependent economies from Russia to Saudi Arabia to Venezuela, the crisis continues to spark panic and weigh on national budget deficits and unemployment rates. And yet another major oil producer, Norway, is looking […]
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Austria To Set Migrant Ceiling
Austrian daily Salzburger Nachrichten poses the question “Sealed border?” on its front page Thursday, after the government announced plans to limit the number of migrants allowed in the country. An estimated 90,000 asylum seekers registered in 8-million-strong Austria last year, with tens of thousands more crossing the country for Germany. Austrian authorities revealed plans Wednesday […]
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Putin Without Pants On Russian Weekly Cover
“But there is no money,” reads the front page of this week’s edition of Moscow-based magazine The New Times, alongside a caricature of Russian President Vladimir Putin as an empty-handed, pants-less joker whose socks need mending. Russia is facing a deepening economic recession, caused notably by the low international oil price. And though Putin has […]
About 60,000 underage refugees have arrived in Germany this year without their parents. An alarming number are disappearing from custody. Experts warn they are vulnerable to both human traffickers and Islamists.
Which is the greater number: $105 or $100 plus 3%? You might think this a trivial question, but about 60% of adults can’t answer it correctly — and many of them still use financial services. It’s an alarming situation. After all, smokers understand they’re taking a risk, if only because they’ve seen the health warning on cigarette packs; but bank clients, especially in poorer countries, are often clueless about money matters. Standard & Poor’s Global Financial Literacy Survey goes further than any of the previous research in examining the phenomenon throughout the world. It’s based on 150,000 interviews in more […]
A study recently released in Germany demonstrates that right-wing parties win on average 30% more votes after a financial crisis. The success of France’s Marine Le Pen is just the latest example.
-Editorial- SAO PAULO — We Brazilians have rarely faced an economic downturn of this magnitude. From April 2014 to September 2015, the country’s GDP contracted by 5.8%, and there are no signs that a turnaround is forthcoming. We haven’t seen anything like it since the “lost decade” that began in the early 1980s or, before […]
“An unprecedented crisis,” warns Turkish daily Hürriyet on the front page of its Wednesday edition, a day after two Turkish jets shot down a Russian warplane near the Syrian border. Although the downing of the plane sparked fears of increased tension between the two nations, Turkey’s President Recep Tayyip Erdogan said in a televised speech, […]
LISBON — Portugal is relearning one of the basic tenets of democracy: Majority rules. The country’s four left-leaning parties are expected to bring down the minority center-right government of Prime Minister Pedro Passos Coelho with a vote of no-confidence on Tuesday, newspaper Diário de Notícias reports. The center-right coalition that has been governing since 2011 […]
Libération, Nov. 5, 2015 “Everyday, two Aylans,” French daily Libération writes on Thursday’s front page, which also features a photograph of the body of a yet-to-be-identified 10-year-old Afghan boy washed up on a beach of the Greek island of Lesbos, off the coast of Turkey. The picture and headline both echo the similar drowning death […]
Molested, harassed, abused: Women in refugee camps are increasingly victims of sexual violence. Authorities in Hamburg try to react.
Brazil has utterly failed to find an environmentally friendly response to waste disposal. The struggling economy makes change unlikely, meaning ever more garbage “pickers” making modest livings sifting through the dumps.
The sinking cost of crude has disrupted the Scandanavian country’s national economy. Norwegians now start to ask how wide the hardship will spread.
Two Syrian refugees who attempted to swim part of the way to Europe recounted why they wound up making such a dangerous journey.
With Europe’s lowest fertility rate, and some 20% of its 10.6 million inhabitants over the age of 65, Portugal is aging fast. Bad news for the country, but apparently a boon to criminals, who see the elderly as prime targets. Crime against senior citizens, financial scams in particular, has registered a sharp rise since the […]
Peyrelevade, a village of 800 people in central France, has welcomed 60 refugees since April. Its former retirement home has been renovated, the primary school has avoided a class closure, and there are new jobs for residents. But the future is no less un
U.S. WORRIED OVER RUSSIAN BUILD-UP IN SYRIA U.S. Secretary of State John Kerry told his Russian counterpart Sergey Lavrov that Moscow’s continued support for Syrian President Bashar al-Assad “risks exacerbating and extending the conflict” amid growing concerns over reports of Moscow’s military build-up in Syria. Reuters reports that the Tuesday phone call between Kerry and […]
BODRUM — When the photograph of Alan Kurdi’s lifeless body spread around the world, the plight of Syrian refugees suddenly came into focus like never before. Yet Kurdi was just one of many who have died making the perilous journey to Europe, where they hope to attain asylum as the ongoing Syria civil war in their homeland continues to claim countless civilian lives. Turkey, which currently hosts some 1.8 million exiled Syrians, has increasingly become a departure point for a perilous sea journey toward Greece in flimsy rafts and ill-equipped boats to get inside European territory. Sayeed, a construction worker […]
GERMANY REINSTATES BORDER CONTROLS In an unexpected reversal of Germany refugee policy, the country has introduced temporary controls on its border with Austria and halted all cross-border train traffic with its neighbor. The decision to temporarily exit the Schengen open-border system comes after German regions said they could no longer cope with a record influx […]
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Extra! Merkel’s Border U-Turn
Frankfurter Allgemeine Zeitung, Sept. 14, 2015 Germany introduced temporary controls at its border with Austria Sunday in an attempt to slow down the influx of refugees into the country, as the daily Frankfurter Allgemeine Zeitung wrote on its front page Monday. Shortly after Berlin’s unexpected move, border control officers started conducting passport checks near Austria. […]
EU UNVEILS “BOLD” MIGRANT QUOTA PLAN In his first State of the European Union speech, European Commission President Jean-Claude Juncker unveiled a plan to deal with the ongoing migrant crisis and urged EU member states to take “bold, determined action.” Among his proposals were the emergency relocation of 120,000 migrants now in Italy, Greece and […]
SAO PAULO — João Batista, a 45-year-old builder, has been unemployed since December. Jailson de Lima, 46, is luckier: He still manages to find construction work from time to time but doesn’t earn enough to pay rent, which has been on a relentless rise. Cristiane dos Santos, 27, lived in a hostel for some time […]