World

Europe moves on from financial crisis, but Greece is still recovering

A decade after the global financial crisis, Europe has largely recovered from the economic damage that forced five countries to seek bailouts. Greece, however, has a long way to go.

Data: World Bank national accounts data, and OECD National Accounts data files; Chart: Harry Stevens/Axios

The big picture: Greece is set to graduate its third and final bailout package this month, an exit that will officially cap the largest sovereign debt restructuring in global history. Its creditors seem to believe that like the other hard-hit countries — Spain, Ireland, Cyprus and Portugal — Greece is now "capable of moving on its own two feet." But with an economy that continues to sputter after eight years of financial assistance, there's still reason to worry.

America has a recycling problem — and China is making it worse

For the last 25 years, the US has exported about one-third of its recycling, the majority of it going to China. Yet most Americans recycle without realizing the complex process behind the waste management system.

This year, new regulations from the Chinese government are limiting how much recycling the US can send them. That’s creating financial challenges, especially for local communities who are starting to see the consequences in their own backyards.