Europe

  Most political theories assert that protection against foreign invaders is one of the main functions of the state. However, excluding years when countries were engaged in active warfare, the proportion of global government spending on defense in relation to gross domestic product (GDP) has remained relatively modest. For instance, from the conclusion of the […]

Violent crime is on the rise in many European countries, and internal security is worsening. Germany has seen cases of unprovoked attacks, some with knives and others with automobiles. Most recently in Aschaffenburg, Bavaria, an Afghan immigrant attacked children from a kindergarten, killing a two year-old and a courageous passerby who gave his life to protect the […]

  The Chinese economy is in trouble, and there is little hope for a recovery. Although its annual gross domestic product (GDP) growth has remained just under 5 percent over the past three years, doubts about the meaning of that figure are growing. Growth in fixed investments (machinery and equipment) has slowed considerably, from 9.9 percent […]

  French sovereign bonds are currently trading at yields comparable to those of Greek bonds. Although France’s bonds are still rated higher than Greece’s, they are edging toward the lowest investment-grade level. The unfavorable ratings are deserved: They are based on economic and fiscal realities. In fact, French bonds are still overrated; some might consider […]

  Historian Christopher Clark wrote the impressive book on how the European powers sleepwalked unnecessarily into World War I at the beginning of the last century. Can we learn something from this? There has been no period in history without war. Europe had the unique chance of a very long peace, mainly protected by the United […]