Europe’s New Message: My Way or the Drachma Highway
Greece’s call for a referendum on the bail-out has been rescinded. The next tranche of funds for Greece from the IMF appears to be safe. According to his essay Europe’s New Message: My Way or the Drachma Highway, Dr. Jacob Funk Kirkegaard, Research Fellow at the Peterson Institute for International Economics and frequent AICGS contributor, argues this was the goal behind Greek Prime Minster George Papandreou’s call for a referendum. However, his potentially term ending move may have had another, more lasting effect: the threat of kicking member states out of the monetary union is now officially on the table.
Merkel’s European Message
The results of the Brussels summit this week underline one basic somewhat contradictory fact: If the euro were to collapse, it would be because Germany was not leading the effort to save it. At the same time, if Germany does lead that effort, it will include all the criticism that goes with leadership. This is the same kind of challenge the United States has had to face for decades. If you are the only leader available, you are damned if you do and damned if you don’t. Ask anyone in the White House what that is like.
The Final Rescue – or Another Three Months Survived!
In his essay entitled The Final Rescue – or Another Three Months Survived!, Prof. Dr. Andreas Freytag, Professor of Economics at the Friedrich-Schiller-Universität Jena and contributor to AICGS publications and events, examines the plan put forth by Europe’s leaders following the October 26th summit in Brussels. According to Prof. Dr. Freytag, while the plan may be a start to solving the euro crisis, not enough attention was paid to the problems at the core of the whole situation.
Saving the Euro
In his essay Saving the Euro, Alexander Privitera, Washington based Special Correspondent for the German news channel N24 and frequent AICGS contributor, explains how the recent plan announced by Europe’s leaders has signaled a major shift in their view of the crisis. By recognizing some of the major issues facing Europe, EU leaders have finally shown that they are actually willing to save the euro zone.
The Eurozone Crisis and Implications for the United States
European leaders finally agreed to a more comprehensive plan to help bring the euro out of its current crisis. However, many experts agree that there is still much more that needs to be done to bring Europe, and the global economy as a whole, out of this mess. This week’s AICGS Advisor examines a few of the expert opinions on what still lies ahead:
Peter S. Rashish, Vice President for Europe & Eurasia, U.S Chamber of Commerce, gives his testimony before the House Financial Services subcommittee on International Monetary Policy and Trade on the U.S. implications of the euro zone crisis and what should be done to bolster trade between the two partners.
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Support Our WorkGlobal Re-balancing Act at the G20
Ahead of November’s G-20 summit in Cannes, France, Dr. Matthias M. Matthijs and Neil K. Shenai, Johns Hopkins University’s School of Advanced International Studies in Washington, DC, assess the changes …
The Banking Crisis
In his essay entitled The Banking Crisis, Alexander Privitera, Washington-based Special Correspondent for German news channel N24 and frequent AICGS contributor, explains how Europe’s fiscal problems are not just the result of a sovereign debt crisis, but also a banking crisis. Any solution for Europe must focus on the financial institutions across the continent just as much as the debt problems of a number of member states.
Buying Time
In his essay Buying Time, Dr. Tim Stuchtey, Managing Director of the Brandenburgisches Institut für Gesellschaft und Sicherheit (BIGS) and Director of the Business & Economics Program at AICGS, takes a look at the underlying issues of the current financial crisis in Europe and asks whether the current model in Germany can be repeated elsewhere within the euro zone.
What Can and Must EU Leaders Achieve Ahead of the G-20 Summit?
In his essay entitled What Can and Must EU Leaders Achieve Ahead of the G-20 Summit?, Peterson Institute for International Economics Research Fellow Dr. Jacob Funk Kirkegaard posits that there is no single answer to the multitude of problems currently facing Europe. However, the upcoming EU Summits must work to take a large step forward in correcting the fiscal situation by making a number of necessary changes.
Occupy Frankfurt?
In this week’s At Issue, Executive Director Jack Janes examines the growing dissatisfaction with policy-makers and financial institutions in dealing with the current economic crisis, and how this widespread sentiment is leading populations on both sides of the Atlantic to look for a multitude of ways to vent their frustration.
The Malaise
In his essay entitled The Malaise, Alexander Privitera, Washington-based N24 Special Correspondent and frequent AICGS contributor, examines the pessimistic mood growing among the U.S. population about the current state, and future, of the economy. With confidence in the ability of the U.S. economy to rebound falling, as well as the increasing failure of leaders to act, populist movements like the Tea Party may take root in the more widespread sentiment of the American people.
Long-Term Questions for Short-Term European Strategy
In a recent essay from the German Marshall Fund of the United States entitled Long-Term Questions for Short-Term European Strategy, author Joseph Wood takes a look at the wide array of commentary on the future of Europe sparked by the current crisis. While Europe struggles to find any short-term answers, they must capitalize on this opportunity to lay out concrete plans for the future of the euro, as well as the Union.
