The Botched Rescue in Cyprus
The decision to endorse a bailout deal that included a levy on bank deposits was legally dubious, morally unjustifiable, managerially inept, and economically foolish. […]
Western Europe
Cyprus and the Euro Crisis
The Cypriot banking crisis reveals the danger of the euro crisis incapacitating Europe and the global economy more broadly. […]
Don’t Buy the Hype on the Transatlantic Trade Deal
Expectations for the U.S.-EU free trade agreement are dangerously high. Reaching a deal is likely to take longer and produce smaller gains than optimistic figures suggest. […]
European Union Debt Crisis
The euro crisis continues to hamper Europe’s growth, and the risk of contagion hangs in the air. […]
Bubble Building
Speaking on RT CrossTalk, Carnegie’s Uri Dadush discussed the use of monetary expansion by advanced countries to redress their economies. He warned that although the world is not yet in a new bubble economy, it […]
Europe’s Stagnant Future
The euro crisis is far from over. The best possible outcome for Europe may be years of stagnation, as the danger of a renewed financial crisis is very real indeed. […]
U.S. Fiscal Cliff Risks Dragging Global Economy into Darkness
If the United States falls off this fiscal cliff into recession, the outlook for the world economy, already gloomy, will darken further. […]
Club Med and the Sunbelt: Adjustment within Monetary Union
Differences between the U.S. and eurozone monetary unions go a long way towards accounting for how well or badly each has adjusted in the aftermath of large housing bubbles and severe financial crisis. […]
Obama’s Stake in Brussels
Propping up the euro through contentious fiscal and banking arrangements, all without adequate guarantees from countries on Europe’s periphery, may not produce the long-term stability that is in the interest of both sides of the Atlantic. […]
Euro Crisis: Back with a Vengeance
With European voters voicing their frustration at harsh austerity measures, economic fears are back in the eurozone and any respite from government and central bank intervention appears to be fading. […]