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FROM THIS EPISODE

The nations that share the Euro are so independent in almost every other way that the common currency may not survive. We hear it in the voices of Italians, Germans, Greeks and even the British, who have plenty of problems even without the Euro. We also hear why it matters so much to the United States. Also, unemployment drops, but not payroll taxes, and Art Basel Miami Beach defies economic recession.

Banner image: Greek flag, covered with one Euro coins. Photo by Sean Gallup/Getty Images

Producers:
Frances Anderton
Christian Bordal
Anna Scott
Sonya Geis

Reporter's Notebook Art Market Flouts Recession in Miami Beach 6 MIN, 27 SEC

At America's biggest art fair this week, major museum directors and other collectors are lining up to bid on paintings, sculptures, assemblages and collaborations insured for $2.5 billion. While this Thanksgiving week was the worst for the equity markets since 1932, that has not put a crimp in Art Basel Miami Beach, where 260 galleries are showing works by 2000 artists with asking prices into the millions. Katya Kazakina is the art market reporter for Bloomberg News.

Guests:
Katya Kazakina, Bloomberg News (@artdetective)

Making News Unemployment Drops, but Not Payroll Taxes 7 MIN, 47 SEC

Unemployment unexpectedly dropped last month from 9 to 8.6 percent, good news for President Obama. Jim Tankersley is economics correspondent for the National Journal.

Guests:
Jim Tankersley, Washington Post (@jimtankersley)

Main Topic Can a Divided Europe Save Its Common Currency? 36 MIN, 46 SEC

America's economic future will depend in part on what happens in Europe, so the crisis over the Euro demands our attention. The Eurozone is divided between prosperous countries like France -- and especially Germany — and debtor nations, including Greece, and now Italy. The strong are needed to bail out the weak, but so far there's not enough trust for the strong to provide big money or the weak to accept austerity. Can un-elected European technocrats, trained on Wall Street, overcome the politics of independent nations? Why is it all so important to the United States?

Guests:
Beppe Severgnini, Corriere della Sera (@beppesevergnini)
Karsten Voigt, German Council of Foreign Relations
Nick Malkoutzis, Kathimerini (@NickMalkoutzis)
Mary Dejevsky, The Independent
Rana Foroohar, Time magazine (@RanaForoohar)

Mamma Mia!

Beppe Severgnini

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