Is there justice in solidarity: this, almost philosophical question, was painfully raised by the financial crisis. As the protests in Greece showed and the referendum in Iceland, two of the worst hit by the crisis states, people firmly showed they did not accept to pay private debts with public money ... more

Strange things are happening lately to the single European currency - the euro. Under the rumble and the splashes, caused by the financial storm in Greece, it appears that very dangerous things are swimming underneath, which show that no one in this world depends on himself only, that the economy has ... more

Even two years ago the Centre for European Reform chief economist Simon Tilford warned that the economic imbalances in the eurozone could prove to be dangerous. Then his major warning was about the danger of large current account deficits in the PIGS countries - Portugal, Ireland, Greece ... more