Hope springs eternal among policy makers in Europe’s beleaguered periphery. At five minutes to midnight in Athens, and with a bank run having started in Madrid, these policy makers cling to the forlorn hope that somehow Germany is going to relent on its strong opposition to euro bonds.

One year after the Fukushima disaster, nuclear energy policy is moving in two opposite directions. While much of the world, led by Germany, is embracing caution and winding down nuclear energy ambitions, the US, Britain, France and Russia are poised to boost their nuclear estate.

AEI's John Makin examines the consequences of German deflationary policies and Greece's probable exit from the eurozone in the latest Economic Outlook.

When the G8 major economies convened at Camp David last weekend, the continuing crisis of the euro, common currency of 17 European Union (EU) members, dominated the economic discussions. The agonies of Greece, badly divided in recent parliamentary elections, and forced to vote again on 17 June, were at the forefront.

Baghdad is all atwitter over the P-5+1 talks with Iran beginning today. A sandstorm kept many European and Western diplomats from landing, but the Iranians were out in full force, with Iranian negotiator Saeed Jalili leading the way.

Germany’s promotion of renewable energies is commonly portrayed as setting a standard for the rest of the world. It is instead a cautionary tale.

Attempts at austerity and deleveraging in Europe have converted an economic problem into a political dilemma, with leftist governments rising against Germany's austerity-laced rescue packages. Germany now faces a tough economic decision that will involve choosing between a breakup of the current euro system and a movement toward a common fiscal policy in Europe.

America's version of capitalism has been much more dynamic than Europe's. Why don't Obama and Romney debate that?