Euro

Congress has narrowly avoided a global financial crisis by taking a cue from Europe. Both regions are kicking the can down the road, rather than finding lasting solutions. Short-term fixes, though, may lead to long-term decline for the West.

In the world of Markus Will, the euro is gone and Germany is returning to the deutschmark. Though the book is fictional, it takes a scenario that is possible and plays it out to perhaps it’s most shocking extreme.

As the European Union struggles to contain the euro crisis, Spain is quickly approaching an economic collapse. The country is among those in line to receive a Greece-style bailout, though experts say its time for one may come sooner than once expected.

At a summit meeting on Wednesday, European leaders signaled they’re pushing ahead for contingency planning for a Greek exit from the euro. But that possibility may lead to further unimagined problems.

The Netherlands is one of the richest and strongest economies in the euro zone. But, in recent months, the country has dipped back into recession as it tries to shave nearly $20 billion from its budget. It’s forced some people living on the margins to seek assistance.