The Greatest Poker Game in History
Based on the experience of Greece, Ireland, and dozens of other countries that have had to resort to IMF-style rescue programs, Italy is unlikely to avoid a protracted and deep recession. […]
Month: November 2011
Five Great Misconceptions About the Euro Crisis
Five misconceptions—all rooted in denial—are preventing policymakers from appreciating the gravity of the crisis in Europe, which represents the greatest threat to the global economy since the Lehman debacle. […]
Don’t Be Afraid of the Service Sector
The ability of the service sector to generate growth is widely underestimated. So long as country avoid taking protective measures and harness their competitive advantages, countries should welcome larger service sectors. […]
Surviving the Storm is the First Priority
To save the euro, Europe must not only put out the immediate fire, but also act to prevent future fires by layering both fiscal and political unions on top of its currency union. […]
Will Economic Disruption Derail the Arab Spring?
The Arab Spring has toppled three governments and galvanized change across the Middle East. But fiscal, external and labor market imbalances are widening, and both new and old governments are under pressure to deliver simultaneously on political, economic, and social fronts. […]
The G20 Action Plan
Like European leaders in their summit the week before, the G20 failed to put forward concrete steps that will resolve the European debt crisis and stabilize global financial markets. […]
The Canned Summit
Although Cannes provided the United States and the broader G20 with an opportunity to rescue Europe from its current economic turmoil, the G20 did not make the tough decisions necessary to end the Eurozone crisis. […]