Buying Time, Building Firewalls
European leaders have finally agreed to a deal that will send the next tranche of financial aid to embattled Greece in exchange for further austerity measures in Athens. According to Senior Fellow Alexander Privitera, while the deal will help Greece stay afloat in the short term, it increasingly signals that politicians in Europe may simply be buying time for an eventual Greek default.
Unwarranted Schadenfreude (or Why the Survival of the Euro Matters to Americans)
Schadenfreude [shahd-n-froi-duh] noun: satisfaction or pleasure felt at someone else’s misfortune It’s very tempting for Americans to roll their eyes about the debt crisis in Greece, and to treat the …
The Moral Dilemma
While promoting the work of his government to U.S. President Barack Obama, Italian Prime minister Mario Monti was suddenly asked by his host how he dealt with German Chancellor Angela …
Italian Lessons for Bernanke
Looking at Europe, FED Chairman Ben Bernanke has drawn some hard lessons that the U.S should be aware of. In fact, with the most acute phase of the Euro crisis somewhat abating, Bernanke feels compelled to issue a stern warning to U.S. politicians not to make the same mistakes made by some European countries, which have made them vulnerable to fiscal crisis. What happened to Europe could very well happen to the US, and more suddenly and sooner than many today think is possible.
Germany’s Hidden Weaknesses
Dr. Norbert Walter is the former Chief Economist of Deutsche Bank. Dr. Walter is currently head of Walter & Töchter Consult. In this essay, which originally appeared in the New …
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Support Our WorkTriple U (UUU) – The Way the Global Economy Goes!
Dr. Norbert Walter offers an assessment of the global economy’s path in light of the eurozone crisis and upcoming election in the United States.
European Visions in Davos
Alexander Privitera examines Chancellor Merkel’s speech at the World Economic Forum, in which she strongly defended the euro and laid out a plan for further European integration. According to Mr. Privitera, her words will not be enough to solve the euro crisis in the near future. However, the speech should help assure financial markets of Germany’s continued commitment to the euro and the project of European integration.
Konvergenzen und Divergenzen im “Währungsraum USA” im Vergleich zur Eurozone
Von Wirtschaftdiesnt 01/2012, ZBW – Leibniz-Informationszentrum Wirtschaft. Dr. Berend Diekmann ist Referatsleiter “Außenwirtschaftspolitik, Nordamerika, G8/G20, OECD” beim Bundesministerium für Wirtschaft und Technologie in Berlin. Christoph Menzel, Dipl.Volkswirt, und Tobias Thomae, …
Germany’s Historical Euro Responsibility
In this Op-Ed, which originally appeared in Süddeutsche Zeitung on January 12, 2012, J.D. Bindenagel takes a brief look back at the history of Europe leading up to the push for a European Monetary Union. According to Mr. Bindenagel, the future success of the Euro rests on the will of Europe’s leaders, and Germany in particular, to make their monetary union work.
The Firewall
In a recent speech, International Monetary Fund Managing Director Christine Lagarde once again reminded Germany of the consequences of not acting on the current crisis. According to Alexander Privitera, while German officials were quick to shrug off the latest comments, Berlin may be more flexible in its options to help the euro than many believe.
“A Small but Fine Piece” – More Small than Fine
Prof. Dr. Andreas Freytag takes a look at the outcome of this week’s EU summit in Brussels. According to Prof. Dr. Freytag, while the agreement of a fiscal pact by 25 of the 27 EU member states was good news, European leaders once again failed to address several key issues of the crisis.
Merkel’s Summit
Rarely has one of the recent European crisis summits had as little impact on the public mood as the one just concluded in Brussels on Monday of this week. Reactions …
