Mexico’s economy
Mexico’s economy
Making the desert bloom
The Mexican economy has recovered somewhat from a scorching recession imported from America, but is still hobbled by domestic monopolies and cartels
SALTILLO
HOT and high in the Sierra Madre, the city of Saltillo is a long way
from Wall Street. Stuffed goats keep an eye on customers in the
high-street vaquera, or cowboy outfitter, where
workers from the local car factories blow their pesos on snakeskin boots
and $100 Stetsons. Pinstriped suits and silk ties are outnumbered by
checked shirts and silver belt-buckles; pickups are prized over
Porsches.
Europe's debt crisis
Europe's debt crisis
At bursting point?
by The Economist | BRUSSELS
THIS grotesque map of the world, depicting Europe as a bloated balloon, caught my eye this week, and powerfully illustrates one of the factors in Europe's debt crisis. It depicts the countries of the world sized according to the amount of government spending*.
In the words of the World Bank, which published it in a report issued this week ("Golden Growth: Restoring the lustre of the European Economic model", here), Europe is the world's “lifestyle superpower”. As opposed to America, which spends almost as much as the rest of the world put together on defence, Europe spends more than the rest of the globe combined on social policies.
The Berlusconi option for Lady Ashton?
European foreign policy
The Berlusconi option for Lady Ashton?
by Charlemagne | BRUSSELS
WHEN
it is not fretting about the failures of the euro, Brussels’s favourite
pastime is to fret about the failures of its diplomatic arm, the
European External Action Service (EEAS).
With the Arab world in ferment, the West as a whole in decline and America drawing down its military commitment to Europe, one would assume that Europeans would have a lot to think about and do in international affairs. But a year after the launch of its "foreign ministry", though, the despair is palpable. Fewer and fewer people have anything good to say about its boss, Cathy Ashton.
One unusually fierce shot was fired last month from the pages of The Economist’s sister publication, European Voice (here). The author, Toby Vogel, concluded:
Swiss banks and American taxes
Swiss banks and American taxes
Pawn sacrifice
by D.S. | BERLIN
A
MONTH ago, Konrad Hummler, managing partner of Wegelin & Co, the
oldest Swiss private bank, said it was unlikely that an American court
would charge his bank with tax fraud. Three of his employees, who
managed accounts for American clients, had just been so charged. But
indicting the bank itself would have “a destabilising effect” on the
entire system, he argued.
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