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In a major reversal, European Central Bank could help ease Greek debt

Berlin — A deal on the Greek rescue is still in sight, as ECB considers helping with debt burden.

German opposition politicians slam Merkel for backing Sarkozy

Berlin — What would become of ‘Merkozy’ and, more importantly, her crisis-driven vision for reshaping Europe, without her side-kick in Paris?

Merkel starts campaigning for Sarkozy

Brussels — Merkel and Sarkozy give joint interview to stress Franco-Germany unity in euro crisis, warn against undermining austerity plans.

China mulls contribution to Europe’s rescue fund

Berlin — Premier Wen says China will study ESM involvement, following talks with Chancellor Merkel.

Unemployment soars in euro zone, plummets in Germany

Berlin — Divergences between the European economies revealed by contrasting unemployment figures.

Germany warns Greece over bailout

BERLIN — Germany, frustrated with the slow pace of reform in Greece, warns that rescue is not inevitable.

Davos takes on euro zone crisis

Old arguments about how to solve the euro zone crisis are re-hashed at World Economic Forum annual meeting
Davos newsEnlarge
Davos: the euro zone crisis followed the leaders to the Alps (FABRICE COFFRINI/AFP/Getty Images)

Davos. The name, the place, what it stands for is a challenge to an ideal of journalism. It seems to be one of those events that become a story not because of any intrinsic news value but because a bunch of famous people get together and allow journalists to mingle among them.

There are many national leaders at the World Economic Forum's annual meeting in Davos but no treaties are signed, nor are there joint declarations of policy made. That would be news and worth reporting. There are titans of industry in Davos, but no products are launched or companies acquired. That, too, would be news etc.

It can't be news because the comments about the year to come actually shape events. I came across this article from The Washington Post a couple of years ago on Google about some famously wrong predictions made by the rulers of the planet at the World Economic Forum. It's pretty amusing. (For that matter, did anyone at Davos in 1996 or 97 predict there would be something like Google (founded in 1998) and that a search engine would upend all previously known models of information aggregation and dissemination?

Anyway, the leaders are at Davos, journalists are tweeting like fan-boys and girls about rubbing shoulders with them. 

More

Opinion: What history can teach us about the global economic crisis

You could say the euro crisis is a split between the “Protestant ethic” of hard work and delayed gratification versus the more easy going, care-free and profligate ways of the Catholic/Orthodox.

Is New Europe out-gunning the Old?

COIMBRA, Portugal — An end-of-year journey in the East and West paints a stark contrast in Europe. But it may be deceiving.

In Italy, the poor drive Ferraris

ROME — A single raid on the Dolomite ski resort of Cortina found 42 so-called cars worth 200,000 euros registered to owners squeaking by on less than 20,000 euros a year.
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