Russia, Europe, and the Natural Problem

Having now denied many European countries gas for 10 days, Russia may have brutally exposed the vulnerability of the European Union. But it has also shot itself in the foot and forced the EU to get serious about cutting its exposure to Russian provisions. In the end, Moscow’s only long-term reward may...

Dividing the Spoils

Um, Alison, I’m not sure if this is what John Quiggin meant when he said “Citigroup’s global operations are too big for the US to handle alone.” Still, your scoop does lend credence to the theory that modern capitalism was invented by pirates. Ahem. Related: For more on  Citigroup’s...

Meanwhile, in Central Asia a bailout costs…

Compared to the $25 billion that GM wants, this sounds cheap: The Pakistani rupee [their currency, whose value has been falling leading to inflation in Pakistan] ended flat on Friday, steadied by expectations that the first tranche of a $7.6 billion loan will be released by the International Monetary Fund...