Chancellor Angela Merkel has some major challenges ahead regarding the future of the euro, writes Senior Non-Resident Fellow Dr. Ulrike Guérot of the European Council on Foreign Relations (ECFR). Dr. Guérot argues that Chancellor Merkel’s options regarding reform efforts in the euro zone have been severely limited by domestic issues, and that her ability to reach a compromise with other EU countries depends on the outcome of these domestic developments. This essay originally appeared in the ECFR’s blog on February 24, 2011.
In this week’s At Issue, Executive Director Dr. Jackson Janes examines the political earthquake in Egypt and the challenges ahead post-Mubarak – not only for Egyptians but for Europe and the United States in assisting the transformations in a new era for Egypt and the Middle East.
Little more than a year after the passage of the Lisbon Treaty, the E.U. faces a much dimmer future, writes Doug Bandow, Senior Fellow at the Cato Institute and a regular contributor to the Advisor. The EU’s objective of becoming the globe’s third “Weltmacht,” alongside America and China, looks ever more like a fantasy, Bandow argues, especially as the financial crisis threatens European unity. This essay originally appeared in the author’s blog on Forbes online on February 7, 2011.
In this week’s At Issue, Executive Director Dr. Jackson Janes examines the current concerns about the future of the euro and the challenges of securing both consensus among the euro zone members and domestic political support for the European single currency, especially in Germany.
As euro zone governments quietly work on a proposal to relieve Greek bond debt, a much louder debate over the future of the euro zone has come about across Europe. The following several articles focus on the debate and show the range of opinions regarding the future of the euro zone.
Germany has become the object of Europe’s resentment, writes Stefan Theil, Newsweek correspondent and a regular contributor to the Advisor, mostly because the weak euro has meant a strong German. But at the same time, Theil argues, Germans are starting to feel some disillusionment with supporting some fellow euro zone members, a growing attitude that will eventually force action – action that Germany will likely lead. This essay originally appeared in the January 23, 2011, edition of Newsweek.
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Jochen Bittner, a regular contributor to the Advisor, argues that behind all of the euro zone debate lies a simple but unpleasant truth: The monetary union came too soon. Certainly it is difficult to shift strategies in the middle of a crisis, but Bittner contends that nothing less than a ‘reset’ will help the euro zone out of this mess, something the German government is eager to tackle, even if it won’t admit so publicly. This essay originally appeared in the January 18, 2011, edition of Die Zeit and is available in German only.
As Portugal, Spain, and others have to pay exorbitant interest rates on their government debt, all of Europe is threatened with an increasingly worse economic crisis, writes Senior Non-Resident Fellow Dr. Sebastian Dullien. Germany could help, Dr. Dullien argues, but instead a ‘stingy’ Chancellor Merkel is endangering the euro zone with her government’s mindset of demanding punishment for countries in crisis. This essay originally appeared in the January 17, 2011, online edition of Der Spiegel and is available in German only.
Conditions for U.S. climate and energy policy have changed considerably after comprehensive climate and energy legislation failed in the 111th Congress. In the newly elected 112th Congress, emphasis will likely shift away from climate change to more orthodox supply side energy strategies. Writing from a European perspective, Sascha Müller-Kraenner, Managing Director of The Nature Conservancy in Europe and a regular contributor to the Advisor, explores the consequences of these U.S. changes for the European Union’s climate and energy strategy as well as for a future international climate regime.
State Secretary Dr. Werner Hoyer, MdB (FDP), discusses with Dr. Jackson Janes the foreign policy challenges facing Germany in the upcoming year, including Iran, the financial crisis, Belarus, and the Hungarian EU presidency.