Talk of a eurozone crisis 

• Mario Draghi’s Ongoing Faustian Pact Edward Hugh
• ECB Framework: BEEEP Marc Chandler
• Some Things to Consider if Spain Leaves the Euro Michael Pettis
• Italy and the Euro: Myths and Realities Paolo Manasse
• Greek Re-entry (or Grentry) Not the Game Changer Many Think it Is Edward Hugh
• How to Run the Euro Area? Kumihara Shigehara et al.
• The Euro Area Needs a Growth Stimulus Package Bernard Delbecque

And now, the best of the rest…

DEATH & TAXES

L. Randall Wray brings us a series of posts on how taxes fit into the overall framework of Modern Monetary Theory.

• Pre-Distribution or Redistribution? The Piketty Moment, the Democrats and the Oncoming Elections (Guest Post) L. Randall Wray
• Taxes and the Public Purpose
• Taxes and the Federal Budgeting Process
• Forget Taxes for Redistribution

GLOBAL MACRO

• The Great Backlash Nouriel Roubini
• The Challenges of Achieving Financial Stability Joseph P. Joyce
• Commodity Prices and Resource Scarcity James Hamilton
• The Secret Weapon for Fiscal Strength—Strong Budget Institutions Holger van Eden
• Criticisms of Piketty Valid, but Underlying Thesis Still Intact James Hamilton
• The Private Equity Limited Partnership Agreement Release: The Industry’s Snowden Moment Yves Smith
• Is Credit Suisse Really in Jail? James Kwak
• How Will China Clean its Air? Michael Levi
• China’s Oil Giant at Center of Corruption Probe Ky Krauthamer
• Russian FX Reserves and Balance of Payments Vulnerabilities Menzie Chinn
• UK: New-Style ‘Corsets’ Face Old-Style Problems David Smith
• Mexico’s Oil and Taxes Shannon O’Neil

UNITED STATES

• Obama Foreign Policy—Incompetence Writ Large? Marvin Zonis
• Understanding the EPA Carbon Proposal in Context Michael Levi
• Corporate Profits Take a Sharp Hit as Revised Numbers Show a 1% Annual Rate of Decrease in U.S. GDP Ed Dolan
• Fed Watch: Policy-Induced Mediocrity? & Fed Watch: Dudley Revisits Exit Strategy Tim Duy
• Increasing Energy Security From a Trans-Atlantic Trade Pact Thomas Grennes & Andris Strazds
• U.S. Interest Rates: The Potential Shock Heard Around the World Serkan Arslanalp and Yingyuan Chen
• The Devil’s in the Data: It Appears No One Knows What to Make of the U.S. Economy, and Here’s Why Daniel Alpert
• What Drives Hiring Uncertainty? Ekkehard Ernst

GEOSTRATEGY

• Ukraine: The Real Energy Crisis Starts in June Robert Bensh
• Ukraine: Now Comes the Hard Part Robert Kahn
• Ukraine, Greece, and the IMF: Déjà Vu All Over Again? Benn Steil & Dinah Walker
• Doing Business with Putin’s Russia: Why it’s Dangerous to Trade with People who Don’t Believe in Trade Ed Dolan
• China, Russia and East Siberian Natural Gas Dave Summers
• Destabilization Undermining U.S.-Chinese Counterterrorist Cooperation Dan Steinbock
• Vietnam, China Give Differing Accounts of Incident Near Disputed Oil Rig Andy Tully
• Baghdad’s Hold on Kurdistan Slips Further as Oil Exports Begin Nick Cunningham

EMERGING MARKETS

• Turkey: Demystifying Erdoganomics Emre Deliveli
• How Low-Income Countries Can Diversify and Grow Chris Papageorgiou, Lisa Kolovich, and Sean Nolan
• How Sri Lanka Dodged Turmoil in EMs Between Washington’s Human Rights and China’s Free Trade Dan Steinbock
• Taper Tantrum or Tedium: How U.S. Interest Rates Affect Financial Markets in Emerging Economies Alexander Klemm, Andre Meier and Sebastián Sosa
• Building the Future: Jobs, Growth, and Fairness in the Arab World Christine Lagarde
• The New Frontier: Economies on the Rise Min Zhu