The Berlin Blockade (1948 49) was the first major crisis of the Cold War.

Only in the 1930 s was the economy digging itself out from a major financial crisis.

Most international finance economists are becoming increasingly frightened that a major international financial crisis could erupt.

As economic deregulation increased, financial crises began erupting since 1990, there have been three distinct crises in Latin America, one each in Russia and Asia, the Internet bubble, and now the sub prime crisis.

But, by insisting on such conditionality, she would trigger a huge political crisis in Europe.

In 1907, a major financial crisis emanating from the United States affected the rest of the world and demonstrated the fragility of the entire international financial system.

We are once again learning the hard way that this kind of austerity, when applied in the teeth of a major financial crisis, leads only to depression.

As the Georgian crisis has underscored, there are limits to the ability to influence developments in a region where Russia has strong strategic interests and a preponderance of military power.

Last August, fighting to the north of the provincial capital Goma flared up again, provoking a major humanitarian crisis that has no end in sight.

In managing the 2008 crisis, foreign banks dependence on US dollar funding constituted a major weakness, and required the provision of large swap lines by the Federal Reserve.

In 1907, a major financial crisis emanating from the United States affected the rest of the world and demonstrated the fragility of the entire international financial system. The response to the current financial crisis is replaying a similar dynamic.

What ensued was the first great international crisis of the post Cold War era, one that, in less than a year, led to the liberation of Kuwait, along with the restoration of its government.

In a united effort, a major crisis that would have openly divided the Union for years to come and which would have made Europe a global laughingstock was averted.

Some say that, just as Egypt s war of attrition eventually gave way to a full scale war and then a peace treaty, Europe needs a major crisis to move forward.

Innovation Crisis or Financial Crisis?

In that regard, it might be worth considering, when a major humanitarian crisis occurs, setting up a briefing session in a format open to all Member States, possibly using the framework of the Economic and Social Council.

It matters and will continue to matter in the European Council and the European Parliament.

The Great Backlash

A Grand Bargain with Iran

A Big Chance for Small Farmers

Big Countries, Small Wars

A Grand Unified Economic Theory?

It is a major and urgent problem.

Globalization is above all a context, an environment, even if the consequences of the first major financial and economic crisis of the global age will further deepen the gap between the very rich and the very poor.

It was also true, however, that the proliferation crisis had become urgent.

Big Reform in Small Packages

But then Geithner takes a leap.

Once portfolio investors start selling their dollar denominated securities, a stampede will follow, causing the dollar's value to crash and triggering the first major global financial crisis of the twenty first century.

Moreover, California s crisis is more than an economic one.

Furthermore, the eurozone crisis does not have the characteristics of a currency crisis.

Globalized Crisis

A Crisis of Trust

A Crisis of Understanding

Calderon s Cauldron

The Crisis of Consumerism

The Refugee Dilemma

The Crisis of Putinism

Humanitarian Crisis

It is not a crisis.

Darfur crisis

Togo crisis

Context is vital.

Consider three major historical trends.

This implies major macroeconomic reforms.

Small Economies, Big Problems, and Global Interdependence