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What will happen to
Venezuela after the government tries to steal an unconstitutional presidential
election on May 20? Everything depends on the cohesion of the splintered
opposition and the determination of the international community. If either
fail, the Western hemisphere could be faced with its most severe humanitarian
crisis in more than a decade.
Dr. Joseph S. Tulchin
On December 18, 2015, the government of Ukraine announced it had no intention of honoring a $3 billion Eurobond loan owed to Russia that would mature on December 20. Given the cross-default clause written into that bond, under British law, this was a momentous decision. It gave the Kremlin the right to have Ukraine declared in sovereign default, which would have pr...
Professor Stefan Hedlund
Financial markets did not react well to the Federal Reserve’s decision in September to keep interest rates stable. Presumably, investors were worried that China’s slowdown is more serious than anticipated, and that the Fed has well-founded concerns about the outlook for the American and European economies.
Professor Enrico Colombatto
Recession may be over in most Western economies but the recovery is still fragile and slow. Sustaining current public debt levels in many European countries is precarious. But central bankers are sending out a confusing and mixed message which is doing nothing to calm the nerves of anxious investors.
Political squabbling took America to the brink of a government shutdown. While the issue was resolved at the last minute, it damaged America’s reputation as a safe haven in times of financial crisis. But what is worse is that the US seems to be learning some bad financial lessons from Europe.
<i>The American governm...