If European leaders are to avoid sinking deeper into a crisis with unpredictable consequences, they must take urgent and immediate action, not debate far-reaching proposals such as a European Monetary Fund.
Given the reset in U.S.–Russian relations, the time is ripe for the United States, Europe, and Russia to devise a security architecture for a new century—one capable of maintaining peace and stability on the European continent throughout the years to come.
As the Euro crisis continues to play out in Greece, troubled economies in Europe face years of slow growth and deflation unless European Union leaders overhaul fiscal and monetary policy.
As the Euro crisis continues to play out in Greece and other weak Euro area members, the time has come for policy makers to consider moderately raising their inflation targets.
History shows that while leaving the Euro area and defaulting would have disastrous implications for Greece and Euro area, it may become the best of bad options if Greece does not receive adequate support from the EU.
Greece is now facing a sovereign debt crisis that is calling into question the viability of the Euro itself. While there are no easy solutions to this crisis, both Germany and the IMF must provide Greece with the support it needs.
Recent arguments against a withdrawal of U.S. nuclear weapons from Germany are based on anachronistic perceptions regarding NATO’s nuclear weapons capacity, but bring up important points concerning broader implications for nuclear disarmament.
As market confidence in the Greek government debt teeters on collapse, and confidence in Portugal, Spain, and Ireland continues to erode, an urgent question has emerged: will the Euro area implode?
Skyrocketing government debt is emerging as a new risk to the global recovery, prompting calls for stimulus withdrawal. Sustaining growth, however, should remain policy makers’ top priority.
Three long-term challenges—rising debt levels, tension between national institutions, and dependence on imported energy—now confront the EU. Dealing with them requires further integration and closer coordination among member states.