The U.S.’ Eurozone Problem
The economies of the United States and Europe are tightly linked via trade, investment, and financial markets. If the Euro crisis spreads, U.S. banking and export sectors will suffer. […]
Economic Instability
Ireland: From Bubble to Broke
Despite the fact that Ireland’s economy sustained a boom both before and after the introduction of the euro, Ireland faces the same problems that are crippling much of Europe: lost competitiveness and an unsustainable government debt trajectory. […]
EU Plan Must Be Backed Up by Budget Cuts
While the recently announced Eurozone support package suggests the possibility of a new era of fiscal coordination across Europe, it will only succeed if the countries in need of aid undertake far-reaching policy changes. […]
Europe Bought Time and Not Much Else
Europe’s massive rescue package has bought time for its most troubled economies, but, unless these countries move forward with necessary—and deeply unpopular—reforms, the newly available money will do little to save them. […]
Can Spain Overcome the Aegean Flu?
Whether or not Spain can overcome the challenges it now faces—which stem from the same source as those in Greece—depends on how quickly and forcefully the government responds. […]
The Protracted Convalescence of U.S. Banks
Though the U.S. financial sector is recovering from the crisis that erupted eighteen months ago, loan losses continue to mount and banks remain dependent on government support. […]
The Crisis in Greece Spreads Across Europe
As the problems in Greece intensify, the EU and IMF are preparing a support package to prevent the crisis from spreading to Portugal, Spain, and other European countries. […]
A Three-Point Plan to Save the Euro
The emergency aid for Greece buys the Euro area some valuable time, but Europe will need to enact a credible plan that addresses the situations in both Greece and other vulnerable countries if the Euro area is to survive in the long-term. […]
The Case for Radical Banking Reform
Few would disagree that the international banking system must change, but agreement on how remains elusive. Various plans have been put forward, including restricting banks to the most basic functions of financial intermediation. […]
The World Order in 2050
The world’s economic balance of power is shifting, as emerging countries rapidly overtake traditional Western powers as the predominant world economies. The recent global recession has only accelerated this trend. […]