What Next for Britain and the EU? Election Outcome Gives No Clear Mandate for Strong Leadership

As widely anticipated, the British General Elections resulted in a hung parliament for the first time since 1974 – no party with an absolute majority.  Negotiations between the three main parties will be needed to form a government with a parliamentary majority, and avoid a vulnerable minority government.


Eurozone’s Fate Seen at Stake in Emergency Meeting in Brussels

The prospect of a global financial panic caused by the fissures in the eurozone has finally concentrated the minds of EU leaders about the dimension of their problems and the need for action to replace stalling. As reported yesterday in a European Institute blog post, the first signs of this more determined, realistic approach emerged with the European Central Bank's decision to unconditionally buy Greek government bonds and the vote in Germany’s parliament to proceed with a bail-out for Greece.

Just how costly and risky the EU’s delays have been was dramatically demonstrated on Wall Street with a record-breaking day of market gyrations as world markets and the euro continued to slide.


How Much Greek Bailout May Cost You

Assuming the International Monetary Fund (IMF) actually lends Greece 30 billion euro (roughly $35 billion) as its share of the Greek bailout, “Business Insider” reporter Greg White has calculated the cost per family per country for the IMF credit:


EU Starts Fully Facing Up to Greek Crisis – At Last ECB Opens Relief Spigot for Athens

The European Central Bank (ECB) has put itself at the center of the Greek rescue attempt by promising to “buy” Greek government bonds and thus help fund Athens reshape its economy at a discount.


First Off-Shore Wind Power in U.S. Finally Gets Go-Ahead -- Catching up with the EU

Like EU, Washington Opts for Action, not Treaties

After years of national and local debate, Washington has approved the country’s first off-shore wind farm – an important step for the U.S. in catching up with developments in Europe.

Approved by U.S. Interior Secretary Ken Salazar, the Cape Wind project -- 130 wind towers each 440 feet tall -- will occupy a 25-square-mile section of Nantucket Sound in Massachusetts. It promises to provide 75 percent of the electricity required by the nearest part of the coast — the equivalent of the output of a medium-size coal-fired plant.