Is More Fiscal Stimulus Needed?
Countries that can afford to continue to spend, including the United States, should not abandon fiscal stimulus until the private sector recovery is clearer. […]
Western Europe
The Enduring Euro Crisis
The problems that led to the crisis in Europe go beyond just fiscal profligacy and will take a long time to correct. Though the euro will likely survive the adjustment, the crisis could still have a profound effect on the global economy. […]
Why is Obama Calling Merkel?
The United States has a vital interest in containing the Euro crisis, and Germany’s leadership or lack of it will determine whether the response to the crisis succeeds or the euro zone unravels. […]
Causes and Consequences of the Euro in Crisis
European leaders are finally coming to appreciate the depth and severity of the European debt crisis, but their policy responses so far still do not go far enough to resolve the crisis. […]
Euro Crisis: Responses from the United States and Germany
As the European crisis continues to intensify, critical questions are emerging about German leadership and the role that the United States can play to influence events in Europe. […]
Why Greece Has to Restructure Its Debt
Given the dual challenge of massive and rising debt and a loss of competitiveness now facing Greece, debt restructuring is necessary—but may not be sufficient—to restore economic growth. […]
The Euro Crisis: A Threat to the US Economy
The United States has a vital interest in assuring that the euro crisis is controlled. If the crisis expands, both the U.S. banking system and export sector will be adversely affected by dwindling investor confidence, a falling euro, and slow growth in Europe. […]
The Euro Crisis and the Developing Countries
If the crisis in Europe continues to weaken the region’s economy, developing countries will likely be hurt by slower export growth and increased financial instability. […]
Germany: Europe’s Pride or Europe’s Problem?
Germany, which benefited from the introduction of the euro, should boost its domestic demand to compensate for the deflationary measures taken by other countries in Europe. […]
Europe’s Debt Crisis: More Than a Fiscal Problem
Though headlines label the Euro crisis as one caused by sovereign debt, Europe’s most troubled economies are suffering from not only fiscal profligacy, but also a severe loss of competitiveness. […]