Wall Street Journal (June 25)
The stakes are high for the North Korean World Cup team. Their 7-0 defeat by Portugal was shown live on North Korean TV. Dear Leader could not have been pleased. During their next game against Ivory Coast, the team “may literally be playing for their lives.” If they lose, the WSJ believes the coach and players should be offered asylum so they don’t have to return to North Korea and face the awful consequences.
Tags: Asylum, FIFA, North Korea, Soccer, World Cup
The Financial Times (June 24)
George Soros writes that if the euro fails, it will be Germany’s fault. Germany used to be the euro’s biggest supporter, but it has turned inward. Germans, however, would do well to consider the consequences of a failed euro. “The restored Deutschemark would soar, the euro would plummet. The rest of Europe would become competitive and could grow its way out of its difficulties but Germany would find out how painful it can be to have an overvalued currency.”
Tags: Currency, euro, George Soros, Germany
The New York Times (June 23)
Financial reform is entering “a crucial phase” in Congress and derivatives trading must be addressed. The NYT blames derivatives for much of the economic crisis. Derivatives “fed the bubble, intensified the bust and led to the bailouts.” Congress should require derivatives be “traded on transparent exchanges and processed through third-party clearinghouses to guarantee payment in case of default.” This will help avoid another financial crisis.
Financial reform is entering “a crucial phase” in Congress. The Times believes derivatives trading must be addressed. The NYT blames derivatives for much of the economic crisis. Derivatives “fed the bubble, intensified the bust and led to the bailouts.” Congress should require derivatives be traded on transparent exchanges and processed through third-party clearinghouses to guarantee payment in case of default. This will help avoid another financial crisis.
Tags: Clearinghouse, Congress, Derivatives, Financial Reform
