2012 has the markings of a difficult year. The future of the euro is inscrutable and Europe is likely already in recession. Growth is slowing in the major emerging economies, and the recovery in the United States remains slow and fragile. […]
Though Europe can help itself economically by lowering interest rates and accelerating structural reforms, financial contributions from non-European countries through the IMF are needed most. […]
French President Sarkozy’s request for Chinese money in support of the euro rescue symbolized three historic shifts in great power relations: the fragility and endangerment of the European project, the ascendance of China, and the beginning of the end of the American era. […]
With the global economy on unstable ground and little economic space remaining for additional policy support, world leaders must focus on preventing a catastrophe in Europe. […]
The global economic outlook for 2012 and 2013 is exceptionally uncertain. With the euro crisis continuing to fester, a global credit crunch, and generalized slowdown threatening emerging markets, it remains unclear where growth will come from. […]
The United States must take urgent steps to help Europe resolve its debt crisis, while simultaneously preparing for the worst—the collapse of the both the euro and global financial system. […]
The euro crisis has grown too big for Europeans to handle alone. The United States must act to help save the euro—or risk paying a much bigger price if it collapses. […]
To save the euro, Europe must not only put out the immediate fire, but also act to prevent future fires by layering both fiscal and political unions on top of its currency union. […]
The Arab Spring has toppled three governments and galvanized change across the Middle East. But fiscal, external and labor market imbalances are widening, and both new and old governments are under pressure to deliver simultaneously on political, economic, and social fronts. […]
Like European leaders in their summit the week before, the G20 failed to put forward concrete steps that will resolve the European debt crisis and stabilize global financial markets. […]
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