01.29.2013 18:34

Is the Euro Crisis Over?

To get pasts their divisions – and remain relevant on the global stage – Europe’s partners must develop a new narrative
By Jean Pisani-Ferry
 
A

Financial crises tend to start abruptly and end by surprise. By the standards of these crises, three years is already a long time span. A year after the Lehman shock of September 2008, confidence in the U.S. financial system had been restored and the recovery had started. A little more than a year after the 1997 exchange-rate debacle triggered their worst recession in decades, Asian economies were thriving again. Three years have elapsed since Greece became a cause for concern for policy-makers and a cause for excitement for money managers.

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Ammonia in the Haze
Farms and cars are contributing to rising levels of ammonia gas in the country, but the impact on air pollution is still hazy
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