Euro Zone Acts to Dodge Greece's Bullet --- But More to Come From PIIGS?

More Rounds Are Liable To Come from PIIGS

Greece seems set to tough out the financial tempest unleashed on the country by its huge fiscal over-runs and sovereign debt. That prospect could help relieve pressures on other troubled economies in euro zone, at least temporarily.

The break-through for Greece came this week when EU President, Herman Van Rompuy announced that "Euro area member states will take determined and co-ordinated action if needed to safeguard stability in the euro area as a whole.” In other words, the euro zone has not cracked in its worst-ever crisis – at least, not for now.


Spain's Presidency will Push Post-Lisbon Changes amid Economic Crisis

Holding the EU’s rotating presidency for the first six months this year, Spain has laid out an agenda that highlights two themes: implementing the Lisbon agenda and helping Europe emerge from the economic crisis.

Spanish ambitions in the EU realm, however, are likely to be strongly colored and perhaps even skewed by the national challenges of reassuring its partners in the euro zone and world markets that Madrid can regain control of its worsening budget gap.


High-Speed Rail Finally Coming to U.S. – Probably From European Train-Builders

Obama, in Tampa, Will Cite Economic and Environmental Benefits

High-speed railways – an established feature of public transport in Europe – are finally on their way to existence in the U.S. in a long overdue move finally taken by the Obama administration.


Deficit of Greece -- And Now Spain – Jeopardize Euro and Perhaps Euro Zone

Sovereign Debt Liable to Overwhelm System in the EU’s Five “PIIGS”

As Greece teeters on the edge of national financial default, its plight dramatically illustrates a widening economic threat to the euro (and even to the euro zone) unfolding in the wake of the global crisis. A half-dozen weaker member states in the euro zone now pose a threat to the European Union’s vaunted single currency. It is the most severe test of the European system since it was launched a decade ago.