Prospects for the Eurozone
As concerns rise over a potential exit by Greece and a possible bailout for Spain, the eurozone remains in a very difficult predicament, with few good options for moving forward. […]
Western Europe
Iran, Oil Prices, and the Global Economy
With tighter sanctions on Iran scheduled to go into effect in the second half of this year, global oil prices could spike further, adding uncertainty to fragile global economic prospects. […]
The Euro-Exit Taboo
Europe’s periphery is finding itself at a crossroads similar to the one Argentina and Latvia faced in the last decade. But a decision to exit or stay in the eurozone will have much more far-reaching consequences. […]
Europe in the Eye of the Storm
Coordinated policy and plain luck have propped up the eurozone, but have not decisively addressed the root cause of the euro crisis: diminished competitiveness in the periphery. […]
Is the End of the Crisis in Sight?
As Italian and Spanish spreads on government bonds decline, Europeans are breathing a big sigh of relief. But true recovery requires big structural shifts that will take many years. […]
The World Bank’s Quota System for Leaders
The selection process for the World Bank’s top job is far from competitive, but focusing on the presidency obscures the extent to which other high-level positions at both the Bank and the International Monetary Fund are also quota-driven. […]
China’s Rise and Latin America: A Global, Long-Term Perspective
China is becoming an increasingly significant economic partner for Latin America. But its rise is part of a broader, long-term shift towards a world in which emerging markets have greater economic weight. […]
New Efforts to Bail Out Greece
After extensive negotiations, Europe has agreed to a new bailout package for Greece, but the deal comes with new, strict conditions. […]
Will Greece Reach a Deal?
Despite delays, the Greek rescue package will almost certainly be approved in the coming days. Whether or not the deal will prove to be sustainable is a much more difficult question. […]
How Italy Will Change
Europe needs to help, but even with help, Italy faces big changes and, assuming all goes well, two or three difficult years lie ahead. […]