As the euro crisis drags on and no end seems to be in sight, two players have emerged that will be key to solving the deficit problems of many ailing states like Greece, Spain and Portugal: Germany and the European Central Bank (ECB).
Germany is the strongest economy in the eurozone and the one of the few that has not yet been sucked into recession by the economic downturn on the continent. The Germans, led by Angela Merkel, have the economic firepower to withstand market forces that could possibly drag weak eurozone countries into recession.
On the other hand the ECB also has major monetary firepower and a chequebook that could be used to purchase bonds from those countries at risk of defaulting. The problem is that EU treaties do not allow the ECB to finance member nations’ debts directly. FULL POST
For decades there have been dreams of a railway network spanning from Asia to Europe, linking cities as diverse as Kuala Lumpur and Kabul in what is known as the "Iron Silk Road".
But the project is stalled and is facing major obstacles. One in particular is in South Korea. A map of the proposed railway network included the Korean peninsula, but restoring the North – South Korean rail network remains difficult.
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