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.

The Cold War is an increasingly distant memory in American military minds, except in the minds of the arms control community, and in particular those who seek the elimination of nuclear weapons. Alas, our president is a member in good standing of this community—indeed, an organizer.So, too, it...

Officials in Chávez's inner circle are wondering how their cash-strapped government can finance yet another "revolutionary" government in Central America. What they fail to realize is that Chávez's backup plan is to sow chaos in Honduras so it is hospitable territory for his partners in the illegal drug trade and a headache for the United States and Mexico.

Judging by the financial market's renewed unease about Italy and Spain over the past week it would seem that all that the European Central Bank's €1 trillion liquidity injection in the European banking system bought was around four months of relative market calm.

Not all speech is permitted under the Constitution. The first Amendment does not protect lewd and libelous speech, and it should not--and cannot in 2006--be used as a shield for murderers.

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.

Francoise Hollande’s defeat of Americain Nicolas Sarkozy does matter when it comes to foreign policy because Sarkozy has arguably been the most alliance-friendly French leader in decades—perhaps ever. 

Trade restrictions arepreventing both continents from achieving their full potential, and it was time to start thinking "transcontinentally" because there are pockets of protectionism on both sides.