The Balkan Chronicle

France joined Germany and Spain in posting better-than-expected economic data pushing the eurozone past the US in the recovery stakes Friday. Compared to the same period of 2009, European growth measured a robust 1.7 percent.

Germany posted Friday its best quarterly growth since reunification, driving Europe past the US in the recovery stakes as the continent recorded its best economic performance in four years.

As an Anglo European white guy from a very long line of white guys, I want to thank all the brown, black, yellow and red people for a marvelous three-century joy ride. During the past 300 years of the industrial age, as Europeans, and later as Americans,

The survey's findings underline suspicions that the new Chancellor, George Osborne, will have to firefight a full-blown crisis in Britain's biggest trading partner in his first years in office

The single currency is in its death throes and may not survive in its current membership for

FT's Wolfgang Münchau has a mostly excellent commentary on why Greece will default, but not this year.

The key point he notes is that Greece has an insolvency problem, but not a short-term liquidity problem.

Down on the Euro Animal Farm, some animals are more equal than others, finds Eric Walberg...

Two million people took to the streets of Athens last week in the country's second general strike this month, protesting the austerity measures proposed by their socialist government. All of Greece came to a 24-hour standstill and the airport was closed as a result of the action. The only public transport was the commuter train so that protesters could reach the demonstration.

According to a report out last week, there is huge off-balance-sheet debt guaranteed by Greece and the other PIIGS, Portugal, Italy, Ireland and Spain. In addition to similar debt guarantees issued by other governments.