Paradigm Lost: The Euro in Crisis
The Euro crisis, which strikes at the heart of the world’s largest trading block, no longer threatens just Europe. Economies around the globe are already being affected, and the worldwide recovery is at risk. […]
Western Europe
The Euro Crisis Is Bigger Than You Think
Though the eight newest EU are committed to eventually adopting the euro, they all already suffer from the problems that dragged Greece into crisis, suggesting that none of them are ready to join the Euro area yet. […]
Italian Fever
Italy has navigated the economic crisis better than many of its European neighbors, but this should not create complacency among policy makers. Unless urgent corrections are made, Italy’s economy will evolve in ways that are bound to lead to a painful crisis. […]
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. […]
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 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. […]