My 5-year-old was bawling her eyes out on the way home. She wanted an ice cream cone, a croissant, a bottle of orange juice, some cookies -- everything I had just explained she will have to cut down on while we have access to just 60 euros per day through the bank ATMs.
Elderly Greeks wait to enter an Athens bank. (Milos Bicanski/Getty Images) Elderly Greeks are particularly vulnerable to
Hollande spoke to U.S. President Barack Obama, and Hollande's aide said they had agreed to work together for a resumption
The German foreign ministry said tourists heading to Greece should take plenty of cash to avoid possible problems with local
Whether on account of poor leadership, or the curse of being blessed with extraordinary energy resources, modern Russia has for now lost the only power game that really counts today: the game of globalization.
Governments have five tools to adjust to capital flows: monetary policy, fiscal policy, foreign exchange intervention, prudential tools, and capital controls. The challenge is to find, for each case, the right combination.
We've slipped well beyond a year and the financial system is still flirting with danger. Durable financial stability has, so far, proven elusive.
We've entered a brave new world in the wake of the crisis; a very different world in terms of policy making and we just have to accept it.
Reform of the international monetary system is wide-ranging and complex. Global debate is only just starting. But we must all recognize that this is not something academic or abstract. We need concrete ideas.
Feb. 19 (Bloomberg) -- Capital controls are a 'legitimate' tool in some cases for governments facing surges in investment