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.

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.

If past is prologue to the future, there is little reason to believe that Merkel will allow the ECB to provide unlimited support to the periphery.

I learned to appreciate the American free enterprise system by quitting a job in Spain.At age 19, I dropped out of school to pursue a career as a French horn player. After a few twists and turns, I wound up in the Barcelona Symphony, which was a Spanish...

For several years now, President Obama and his allies in the environmental movement have promised to usher in a green economy that will create millions of new green jobs that “can’t be outsourced.”

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.

As the United Nations kicked off its annual six-week meeting of the commission on Human Rights in Geneva, Cuban-American leaders and European representatives convened in Washington yesterday to discuss the international community's response to Fidel Castro's human-rights abuses, and to debate what some are labeling the European Union's recent appeasement of the Cuban dictator.

While markets are again correctly obsessing over Italy and Spain’s poor economic growth prospects, as reflected in markedly higher government bond yields for those two countries, they seem to have taken their eye off two upcoming political events that could usher in a new and more serious phase of the...