Germany is (one) key to the future of the Euro. Germany is a country endowed with a Chancellor who is capable and willing to lead. It is, however, also a …
At any wedding celebration, the audience usually expects a loud and firm “Yes”. In European politics these days, Germany’s partners expect a loud and firm “Yes” to whatever proposal for …
In this week’s AICGS Podcast, Dr. Jackson Janes talks with Klaus Deutsch (Deutsche Bank Research), Oliver Wieck (Bundesverband der Deutschen Industrie e.V.), and Alexander Privitera (Washington-based Special Correspondent for German news channel N24) about the challenges facing transatlantic trade relations in an increasingly fragile global economic environment.
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.
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.
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Underneath the cloak of a never-ending list of foreign issues lies the heart of the transatlantic relationship: trade. According to the essay The Dirty Secret of U.S.-European Relations by Jan Techau, Director of Carnegie Europe and a frequent AICGS program participant, this makes for a “boring” partnership, despite the general goodwill between both sides. However, with the economic crisis continuing to weaken the global positions of the U.S. and Europe, both sides will have to begin to build a more meaningful relationship to stave off their respective declines.
In his essay entitled Germany’s Vote Does Not Equate to a Blank Check, frequent AICGS contributor Alexander Privitera explains that Merkel and her coalition survived the latest vote on the EFSF, but that the vote may signal a line in the sand for German assistance to profligate members of the euro.
There is an expression in German soccer that says: after the game is before the game. You may have won or lost one game but the next one is fast approaching, sometimes with little time to prepare…the German Bundestag was an important “game” for the Chancellor to prove that she has sufficient support to push her agenda forward.
As the eurozone crisis continues to build, the possible ramifications for the U.S. of a European economic disaster, such as a Greek default, are taking center stage. While political rifts have been exposed at the hands of the crisis, so has the depth of financial interdependence between both sides of the Atlantic. A recent report on the financial impacts of the Deutsche Börse-NYSE Euronext exchange merger by Prof. Dr. Henrik Enderlein, Associate Dean and Professor of Political Economy at the Hertie School of Governance and a frequent participant at AICGS programs, shows that the overall financial stability of the U.S. and Europe are deeply interconnected, as is their standing in the global markets.
Klaus Deutsch, Deutsche Bank Research, provides an analysis on the Doha Round in the World Trade Organization and what the consequences could be if the world’s major trading partners fail to reach any agreement before the talks will presumably end.