Alex's Archive
Merkel’s Placet
Remember the saying it takes two to tango? In the case of the European Central Bank, that phrase could prove rather fitting for its President Mario Draghi, who will need the tacit support of German Chancellor Angela Merkel if he wants to introduce new unconventional policies, especially during an election year. What… Read more >
The Cyprus Mess
There is truly no shortage of reactions to the European Cyprus deal that emerged over the weekend. The plan to raid depositors on the Mediterranean island—no matter how small their bank account—has not only drawn the ire of citizens in Cyprus itself, it has even managed to shake confidence among Germans. On… Read more >
He’s Done it Again
He’s done it again. Mario Draghi, the head of the European Central Bank, has worked his magic and achieved exactly what he set out to do. This time, he talked down the euro. Draghi barely mentioned the currency in his prepared remarks in the press conference after the regular meeting of the… Read more >
The Growing French-German Rift
Martin Schulz, the President of the European Parliament, does not mince words. Speaking before a German audience in Berlin, the German politician says that it is time to wake up and face reality: “It has become acceptable to accuse all Southern Europeans of being lazy, it has become acceptable to show German… Read more >
Europe and the U.S.: Withering Together?
With the presidential election come and gone the time has come to speculate about its potential impact on the transatlantic relationship. Today, the Brookings Institute hosted an interesting panel discussion on this very subject entitled “The Next U.S. President and Europe: Thriving Together or Withering Apart?” Here are some of the key… Read more >
Lowered Expectations
Just a few days before the next European Union summit in Brussels begins, it is time to lower expectations. This will not be one of those gatherings that lends itself to be branded as a make or break moment for the euro zone. Those who expect the summit to include a Spanish… Read more >
Work Still Remains
At a recent luncheon event in Washington DC, I was reminded of how fragile the western economy is. A president of one of the 12 U.S. Federal Reserve Banks warned his audience that, “if the FED is the only game in town, we will end up with Weimar or Argentina.” And on… Read more >
The Week in Europe
The last week of August has opened with the usual salvo of news about the debt crisis in Europe. Of course, American public opinion will turn its attention towards the Republican National Convention, a much anticipated speech by the Chairman of the Federal Reserve Ben Bernanke, and a strengthening storm off the… Read more >
What Does She Want?
I was speaking with a German friend at a European think tank a few days ago. He was swamped with press inquiries. “Journalists only want to know one thing,” he told me: “What does Angela Merkel want?” I have often asked myself the same question. Of course, only the German Chancellor can… Read more >
Redemption Fund or Eurobonds?
Judging from what the media have made of the latest gathering of European leaders in Brussels, it came close to a disaster. No decision about Eurobonds or growth was taken. The big elephant in the room – Greece − was barely mentioned. Chancellor Angela Merkel and the new French President Francois Hollande… Read more >
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