• Research

    Lessons From Russia’s Crisis

    In 1998, Russia successfully dealt with a severe fiscal crisis by restructuring its debt. If Greece chooses to do the same, it should take note of three valuable lessons from Russia’s experience.

    • Research

    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.

    • Research

    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.

    • Research

    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.

    • Research

    The Making of a Crisis

    • June 02, 2010

    Today’s crisis in Europe can be traced back to eight primary causes, beginning with introduction of the euro over a decade ago.

    • Research

    The Euro Crisis Is Bigger Than You Think

    Though the eight newest EU are committed to eventually adopting the euro, they all already suffer from the problems that dragged Greece into crisis, suggesting that none of them are ready to join the Euro area yet.

    • Commentary

    Emerging From the Emergency

    • Paola Subacchi
    • May 20, 2010
    • European Voice

    In order to solve the current crisis—and prevent future ones—greater cooperation, surveillance, and transparency is needed among European leaders.

    • Commentary

    The U.S.' Eurozone Problem

    • Uri Dadush
    • May 14, 2010
    • Council on Foreign Relations

    The economies of the United States and Europe are tightly linked via trade, investment, and financial markets. If the Euro crisis spreads, U.S. banking and export sectors will suffer.

    • Research

    Ireland: From Bubble to Broke

    Despite the fact that Ireland’s economy sustained a boom both before and after the introduction of the euro, Ireland faces the same problems that are crippling much of Europe: lost competitiveness and an unsustainable government debt trajectory.

    • Research

    Portugal’s Growth Challenge

    • Shimelse Ali
    • May 13, 2010

    While Portugal's public finances are healthier than those of Greece, its poor growth prospects, drastic loss of competitiveness, and high public and private debt all make the country vulnerable to the crisis affecting other parts of Europe.

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