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LyrArc brings in selected articles from many of the world's top publications.

Articles are selected by experts and you can see the gist of the important articles.

Young and Educated in Europe, but Desperate for Jobs

5 Groups   
New York Times - 11.15.2013 Original article ›
Liz Alderman, Liz, Alderman
LyrArc Article Gist
Melissa Abadia, 28 years old, with a nursing degree, leaves Madrid to work in retail stores in the Netherlands. Alba Mendez, with a Masters degree in Sociology, leaves to find work in a supermarket, not something she had envisioned. Spain's younger workers, and youth in Italy and France face similiar problems finding work, or face problems working in unpaid internships with long hours or temporary contracts.
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Will Italy Get the Full Monti on Reform?

10 Groups   
Wall Street Journal - 02.23.2013 Original article ›
Richard Barley, Richard, Barley
LyrArc Article Gist
The prospects for a coalition government of the PD of Luigi Bersani and the parties supporting outgoing prime minister Mario Monti. This is the best outcome for the eurozone and for lowering Italy's borrowing costs on debt.
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Europe's Catch-22 Bond Crisis

15 Groups   
BusinessWeek - 11.10.2011 Original article ›
Aaron Kirchfeld, Aaron, Kirchfeld, Fabio Benedetti Valentini, Fabio, Benedetti Valentini
LyrArc Article Gist
Selling of sovereign bonds by European banks to meet new requirements for adequate capital reserves by the European Banking Authority is having a Catch 22 effect, as this raises the yields at auctions of sovereign bonds of Italy, Spain and other countries.
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Original article 1 minute, gist 1 minute

God Save the British Economy

12 Groups   
New York Times - 12.19.2012 Original article ›
Adam Davidson, Adam, Davidson
LyrArc Article Gist
Adam Davidson of the NYT's interview with American economist Posen, a member of the Monetary Policy Committee of the Bank of England. Posen says austerity measures have a negative effect on the British economy with high unemployment and lack of economic growth.
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Spain Weighing a Fast, Costly Cleanup of Banks

7 Groups   
Wall Street Journal - 12.07.2011 Original article ›
Jonathan House, Jonathan, House, Christopher Bjork, Christopher, Bjork

European Central Bank Chief Looks for Silver Bullet

3 Groups   
New York Times - 06.03.2014 Original article ›
Jack Ewing, Jack, Ewing

ECB Unveils Rate Cuts, Lending Package

3 Groups   
Wall Street Journal - 06.05.2014 Original article ›
Christopher Lawton, Christopher, Lawton, Paul Hannon, Paul, Hannon
LyrArc Article Gist
The ECB president Draghi announces an interest rate cut, lowering the interest rate in the eurozone to 0.15% from 0.25%. He also lowered the rate on overnight bank deposits at the ECB to a negative 0.10%, to encourage banks to lend at a time when credit is tight for businesses in the eurozone. The eurozone faces a risk of deflation with low growth in the eurozone economies. Popular discontent was reflected in eurozone elections in France, UK, Greece and Spain.
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Europe's Bank Rattles Investors

10 Groups   
Wall Street Journal - 08.03.2012 Original article ›
Brian Blackstone, Brian, Blackstone, Charles Forelle, Charles, Forelle

Italy's Renzi Pledges to Pay All Arrears

1 Links 2 Groups   
Wall Street Journal - 02.25.2014 Original article ›
Christopher Emsden, Christopher, Emsden, Giado Zampano, Giado, Zampano
LyrArc Article Gist
Matteo Renzi wins a confidence vote in the Senate by 169 to 139. His economic plan is to give business a boost. He calls on Italians to free themselves from "cultural subalternity" or inferiority to Europe, and "to dream bigger." The plan is for a double digit cut in Italy's payroll taxes, creating guarantee funds for small companies, and paying all of the money the government owes to suppliers estimated at 100 billion euros. Renzi covered the subject of addressing school repairs costing several billion euros. His new cabinet has half of the ministers as women, some under 40, six from the previous Letta government. The Economy minister is Pier Carlo Padoan, chief economist of the OECD.
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Renzi's Italian Job

1 Links 2 Groups   
Wall Street Journal - 02.26.2014 Original article ›
Wsj Editorial, Wsj, Editorial
LyrArc Article Gist
This WSJ editorial points out that the biggest thing in Mr Renzi's favor is the desire for change in Italy, and the public frustration that favors "haste and boldness." Renzi's changes to the tax code are needed as many middle class Italians take less than half of their pay after taxes. Business will get relief from high payroll taxes to boost employment and create new jobs. The current payroll taxes of between 28% to 30% for employers and another 9% for employees are too high.The lower taxes should also reduce the part of the economy that is underground and increase tax revenues. One opinion survey show 48% of Italians favor leaving Italy because of the economic stagnation, another reason to move with speed on the changes.
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Germany Considers Remedies for Slowing Growth

7 Groups   
Wall Street Journal - 10.08.2014 Original article ›
Bertrand Benoit, Bertrand, Benoit, Marcus Walker, Marcus, Walker
LyrArc Article Gist
As growth slows in Germany, with contraction in the second quarter followed by expected growth of annualized 1% in the remainder of the year, debate is growting for tax cuts and ways to promote business investment. DIW, a think tank in Berlin, says the government's goal of a balanced budget may be unsustainable in the current economic climate. Deep spending cuts in Spain and Italy have not been supported by increased spending in Germany, say critics, leading to a too tight fiscal policy for the weak state Europe is in. ECB president Draghi is also pointing out the the need for changes, by saying- "It may be useful to have a discussion on the overall fiscal stance of the euro area with the view to raising public investment where there is fiscal space to do so."
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‘Grexit’ Could Happen by Accident

7 Groups   
Wall Street Journal - 01.12.2015 Original article ›
Simon Nixon, Simon, Nixon

Cost of Spain’s Housing Bust Could Force a Bailout

13 Groups   
New York Times - 04.24.2012 Original article ›
Landon Thomas Jr., Landon, Thomas, Jr., Raphael Minder, Raphael, Minder
LyrArc Article Gist
An increasing portion of Spain's 663 billion euros, or $876 billion, in home mortgages is likely to default. As unemployment rises and unemployment benefits run out for the unemployed more people are likely to default under the burden of large debt. Some of the largest Spanish banks are likely to need a bailout. Analysts estimate a bailout of Spain to be at least 200 billion euros or $264 billon. The large increase in the IMF Fund recently completed by IMF head Christine Lagarde may be designed to handle such a crisis.
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Monti Cuts Taxes For Some Italians

1 Groups   
Wall Street Journal - 10.11.2012 Original article ›
Liam Moloney, Liam, Moloney

Those Depressing Germans

19 Groups   
New York Times - 11.03.2013 Original article ›
Paul Krugman, Paul, Krugman

Denmark, a social welfare utopia, takes a nasty turn on refugees - The Washington Post

3 Groups   
Washington Post - 04.12.2016 Original article ›
Griff Witte, Griff, Witte

ECB's Draghi Must Avoid Moving Target for Spanish Aid

21 Groups   
Wall Street Journal - 07.30.2012 Original article ›
Richard Barley, Richard, Barley

Banking on Another ECB Liquidity Fix

5 Groups   
Wall Street Journal - 02.23.2012 Original article ›
Simon Nixon, Simon, Nixon

Obama’s Third Year May Be Charm for Stocks

4 Groups   
Wall Street Journal - 01.01.2015 Original article ›
Spencer Jakab, Spencer, Jakab

Italy Targets Luxury Car Owners

5 Groups   
BusinessWeek - 02.09.2012 Original article ›
Tommaso Ebhardt, Tommaso, Ebhardt, Flavia Rotondi, Flavia, Rotondi

Monti Pulls a Thatcher

1 Links 11 Groups   
Wall Street Journal - 03.27.2012 Original article ›
Wsj Print, Wsj, Print
LyrArc Article Gist
Efforts to change labor laws by Italy's prime minister, Mario Monti.
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Ahead of New Rules Europe's Banks go on a Selling Spree

8 Groups   
New York Times - 11.11.2011 Original article ›
Mark Scott, Mark, Scott

A New Generation Tackles the Euro Crisis

17 Groups   
Wall Street Journal - 01.12.2012 Original article ›
Brian Blackstone, Brian, Blackstone
LyrArc Article Gist
A new generation of younger leaders takes over at the European Central Bank under Mario Draghi. Belgian economist Peter Praet succeeds Peter Stark of Germany in the Economics Department. Portugal's Vitor Constancio is vice president. Jorg Asmussen, 45, from Germany is on the ECB executive board, so is Benoit Coeure, 42, from France, and Klaas Knot, 44, from the Netherlands. Asmussen will head the ECB's International Division. Jens Weidmann,43, is the new head of the Bundesbank. The result experts say could be a reorientation of the ECB's outlook away from the rigid anti-inflation stance of Draghi's predecessor, Claude Trichet, and a willingness to try new approaches to help Europe tackle this recession.
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E.C.B. Sees a Healing Euro Zone but Warns of Risks

23 Groups   
New York Times - 12.14.2012 Original article ›
Jack Ewing, Jack, Ewing
LyrArc Article Gist
The ECB's annual report for 2012 and the role the ECB under Mario Draghi played in the eurozone crisis in 2011-2012. The gains made in eurozone financial architecture, especially the agreement for the ECB as financial supervisor for European banks. The ECB sees itself as the supervisor for all European banks- the French position in the discussions in Brussels. The agreement of Dec. 12, 2012 only says banks with assets over 30 billion euros, or 20% of GDP of countries, or operations in two or more countries will come under supervision by the ECB.
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French presidential debate: Macron accuses Le Pen of lying | News | DW.COM | 20.03.2017

11 Groups   
DW.COM - 03.20.2017 Original article ›
LyrArc Article Gist
Early opinion polls show Macron the more convincing candidate in the first television debate held in March with 29 percent in an Elabe poll, with Le Pen at 19 percent. An OpinionWay poll shows Macron more convincing at 24 percent and Le Pen at 19 percent. Polls show Le Pen winning 27 percent of the vote in the first round with candidate Fillon on the right and Melenchon, Hamon on the left splitting the vote. In the second round with two candidates the vote shift of other right and left candidates determines the outcome. The second round then hinges on whether French middle and working class voters see risks to their economic future in leaving the EU, and whether appeals to nationalism and anti-immigrant rhetoric works enough to draw support from a centrist candidate.

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Original article 12 minutes, gist 1 minute

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