Western Europe

    • Event

    2011 Global Economic Outlook: The Euro Crisis, Currency Tensions, and Recovery

    As fears rise over currency clashes, policy makers must confront the challenges of a two-speed global economy where China and other emerging markets are surging ahead while Europe, the United States, and Japan face a number of serious economic concerns.

    • Research

    Currency Tensions: Four Lessons From History

    An examination of past episodes of currency tension suggests that competitive devaluations are not likely today. But the forces behind past collapses remain highly relevant and policy makers cannot afford to be complacent.

    • Commentary

    At Pains to Grow

    Overcoming the debt crisis that has stricken Europe and restoring long-term growth prospects for the continent will require European countries to enact major coordinated action and far-reaching structural reforms.

    • Commentary

    A World Without Europe

    If the European debt crisis, which is straining the ties that bind the continent together, brings about the end of European integration, the economic, political, and social repercussions will impact the entire world.

    • Research

    The Choice for Europe

    The revival of the European debt crisis will force EU leaders to choose between entering into a deeper fiscal and economic union or confronting sovereign defaults and the possible break-up of the euro area.

    • China Financial Markets

    The Rough Politics of European Adjustment

    European economic adjustment will be both economically and politically painful, but Europe's financial crises will continue to recur until real fundamental rebalancing occurs.

    • China Financial Markets

    Will Europe Face Defaults?

    Europe's debt crises are likely to worsen, requiring many European countries to implement difficult long-term economic and political adjustments to recover from their fiscal woes.

    • Commentary

    Turning a Happy Hour Into a Happy Alliance

    The results of the NATO summit in Lisbon, aimed at promoting cooperation between NATO and Russia, are a strong and useful platform for the continued transformation of the Russian-Western strategic relationship.

    • Commentary

    Five Surprises of the Great Recession

    Policy makers should heed the lessons of the Great Recession and enact the structural and regulatory reforms needed to protect the world against the next crisis.

    • Commentary

    Defining NATO's Future Role

    The Lisbon NATO summit is a critical event for making the Alliance between Europe and North America fit the security challenges of the twenty-first century.

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