ecenomy

Iceland’s Recovery Saga Presents Opportunities for Brussels, Washington—and Beijing

By Guillaume Xavier-Bender

In front of the dominating church of Hallgrímur, in Iceland’s capital Reykjavik, stands the statue of Leif Ericson. He is described as the “son of Iceland, discoverer of Vinland,” the Norse name for what would become North America. The inscription serves as a reminder of the island’s physical and symbolic position in the middle of the Atlantic.

Crisis Shall Lead to China

By Alexander Golubov

The statements of Chinese Prime Minister Wēn Jiābǎo sounded after the meeting with the Head of German Government Angela Merkel, should give some optimism regarding the destiny of eurozone. China is ready to proceed investing into state bonds of European countries that have become the victims of debt crisis. The words of Wēn Jiābǎo that the People’s Republic of China shall coordinate its actions with the European Central Bank and International Monetary Fund, to help the eurozone to «solve the dilemma it has faced», should be the relief for Mrs. Merkel, provided there wouldn’t be one little «no». For the help to become real, European partners should follow some conditions.