Otherwise, Europe will face a very rude awakening indeed.

But, as peripheral Europe can now attest, this is a cumbersome, painful, and politically unpopular form of economic adjustment.

It s a sad tragedy in one of the world s saddest countries, and far too many Pakistanis will end up paying for it with their lives.

One path led to the demise of communism and a new birth of freedom and democracy at times bloody and painful in Europe.

The last twenty five years of his life he spent quietly in the country, at Genthod, near Geneva, where he died after a long and painful illness on 20 May 1793.

They have seen the horrors of cervical cancer, with women in the prime of their lives presenting with late stage disease and suffering slow and painful deaths.

NEW HAVEN With much of the global economy apparently trapped in a long and painful austerity induced slump, it is time to admit that the trap is entirely of our own making.

Indeed, only when victims have stood up and stated their names granted, a difficult and often painful thing to do have institutional change and successful prosecutions been possible.

With little sign of improved economic fundamentals, rapid currency appreciation is a potentially dangerous development for China in part owing to the risk of an abrupt and painful reversal.

During the early stages of the crisis, Germany, which had bet heavily on Russia s modernization, was averse to taking any consequential action. But, as the crisis deepened, German Chancellor Angela Merkel worked to persuade her European counterparts to implement a broad and biting sanctions regime.

The only hope is that the eurozone makes strong progress toward establishing fiscal redistribution mechanisms, such as European unemployment insurance, before Draghi s anesthetic wears off.

When the crunch comes almost certainly in the year or two following the election it will cause radical, wrenching change, perhaps even more far reaching than Charles de Gaulle s coup d état, which led to the establishment of the Fifth Republic in 1958.

NEW HAVEN With much of the global economy apparently trapped in a long and painful austerity induced slump, it is time to admit that the trap is entirely of our own making. We have constructed it from unfortunate habits of thought about how to handle spiraling public debt.