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. […]
Articles
Brussels Summit: The Long War Ahead
The European leaders’ emergency summit featured plenty of headline-grabbing numbers, but far fewer actual commitments and details. It will not save the eurozone, but it will allow it live on to fight the next battle. […]
G20 Must Help Manage Eurozone Crisis
An economic crisis comparable in size and virulence to the Lehman Brothers episode could erupt if Italy and Spain lose their ability to borrow. The G20 must act now to stabilize the eurozone. […]
Taboos, Italy, and the Euro
Given the severity of the challenges facing Italy today—stagnating productivity, slow growth, and rising debt—and the country’s systemic importance, it is not unreasonable to ask whether Italy should stay in the euro. […]
Making Europeans
Since bailouts alone are failing to end the European debt crisis, a new approach that pacifies markets, strengthens banks, mitigates moral hazard, and is politically acceptable to both core and periphery countries is urgently needed. […]
The Rise of Emerging Markets Requires a New WTO
World trade is expanding rapidly, helping forge modern industrial sectors in emerging economies. Managing this evolving global trading system requires new leadership from the World Trade Organization. […]
How Will It End?
The current Euro crisis will either cause the European monetary union to collapse, leading to sovereign defaults across Europe, or it will force European countries to take real steps toward fiscal union and tighter economic coordination. […]
Is the World Economy Headed for a Double Dip?
Though the global recovery is weakening, the world economy is not likely to head back into recession unless the sovereign debt crisis in Italy and Spain intensifies. […]
Italy: Call in the G20?
The G20 should consider a bailout of Italy, which would also serve as an intervention for the euro and euro zone itself. […]
Renminbi Revaluation: Will Other Asian Currencies Follow?
An appreciation of the renminbi is not the catch-all solution some claim it to be. If China were to revalue its currency, a widespread appreciation of Asian currencies would not follow, nor would the U.S. current account deficit benefit. […]