Eric Westervelt

In Spain, the growing crisis — debt, austerity and joblessness — has prompted more people to vote with their feet. In the first six months of 2012, emigration from Spain is up more than 44 percent from the same period last year.

The Spanish government denies it, but the "brain drain" has become something of a flood with more and more educated, skilled Spaniards moving abroad.

California's Silicon Valley remains by far the dominant arena for high-tech startups and venture capitalists looking to back innovative projects.

But Europe is starting to make its mark on the startup scene. London, Paris and Berlin are starting to hold their own as more and more European startups look to compete on the global stage and attract investors.

A 'Crazy Green Field' For Creative Types

The party that won Greece's parliamentary elections on Sunday has accepted the tough conditions international lenders imposed to bail out the ailing nation. But there's been talk that the party wants to seek some concessions on the terms of the rescue package.

At the G-20 summit in Los Cabos, Mexico, German Chancellor Angela Merkel reiterated her tough line that bailout terms for Greece are not negotiable. After the summit, Merkel returns to a German electorate that is now fed up with a debt crisis that only seems to grow and worsen.

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