In his essay entitled What Can and Must EU Leaders Achieve Ahead of the G-20 Summit?, Peterson Institute for International Economics Research Fellow Dr. Jacob Funk Kirkegaard posits that there is no single answer to the multitude of problems currently facing Europe. However, the upcoming EU Summits must work to take a large step forward in correcting the fiscal situation by making a number of necessary changes.
In this week’s At Issue, Executive Director Jack Janes examines the growing dissatisfaction with policy-makers and financial institutions in dealing with the current economic crisis, and how this widespread sentiment is leading populations on both sides of the Atlantic to look for a multitude of ways to vent their frustration.
In a recent essay from the German Marshall Fund of the United States entitled Long-Term Questions for Short-Term European Strategy, author Joseph Wood takes a look at the wide array of commentary on the future of Europe sparked by the current crisis. While Europe struggles to find any short-term answers, they must capitalize on this opportunity to lay out concrete plans for the future of the euro, as well as the Union.
In a recent Op-Ed from the New York Times entitled Germans Love Europe, but Not the Euro, former German Ambassador to the United States Wolfgang Ischinger explains how Germany’s reluctance to fully embrace the euro, along with their love of the status quo, has led to their slow efforts at fixing the Union’s crisis. For Chancellor Merkel to lead Europe out of this crisis, she will need to convince Germany that any rescue measures are not simply for the currency, but for the future of the entire Union.
In his essay entitled The Upcoming Blame Game, frequent AICGS contributor Alexander Privitera explores the finger pointing being used by leaders on both sides of the Atlantic in the face of the economic crisis. According to Mr. Privitera, with elections coming up in several countries, including the U.S. and France, not only could the transatlantic blame game get worse, but we may even witness a standstill in policy-making as a whole — the last thing a pair of faltering economies can afford.
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Underneath the cloak of a never-ending list of foreign issues lies the heart of the transatlantic relationship: trade. According to the essay The Dirty Secret of U.S.-European Relations by Jan Techau, Director of Carnegie Europe and a frequent AICGS program participant, this makes for a “boring” partnership, despite the general goodwill between both sides. However, with the economic crisis continuing to weaken the global positions of the U.S. and Europe, both sides will have to begin to build a more meaningful relationship to stave off their respective declines.
In his essay entitled Germany’s Vote Does Not Equate to a Blank Check, frequent AICGS contributor Alexander Privitera explains that Merkel and her coalition survived the latest vote on the EFSF, but that the vote may signal a line in the sand for German assistance to profligate members of the euro.
In his essay entitled A New Equation for the Transatlantic Alliance, recently published in the Strategic Europe essay series from Carnegie Europe, Executive Director Jack Janes looks at the unprecedented rise of a deeply integrated Europe, one that is still struggling to find its course within the context of the global stage. Amidst all the current debate about the euro, it is important not to lose sight of how far Europe has come despite the many challenges ahead.
In her article entitled Merkel’s Moment, originally published in the International Herald Tribune, Margarita Mathiopoulos, participant in AICGS events, suggests that it is time for Germany to come to terms with its leadership role in Europe. This realization, argues Ms. Mathiopoulos, begins with Chancellor Merkel’s willingness to lead Europe through its current crises.
There is an expression in German soccer that says: after the game is before the game. You may have won or lost one game but the next one is fast approaching, sometimes with little time to prepare…the German Bundestag was an important “game” for the Chancellor to prove that she has sufficient support to push her agenda forward.
In his essay “Eine Abstimmung über Europa – und ihre innenpolitischen Konsequenzen…,” current NRW/AICGS Fellow Jan Treibel examines the divisions within the ruling coalition in Germany over further financial assistance to the Euro and how this could spell disaster to the parties in power.
In the week’s At Issue, executive director Jack Janes explains how current tensions over the future of the euro make up another chapter of Europe’s long path to a deeper and wider Union. Today’s challenges echo those of the past, but dealing with them will require stronger arguments about the promises beyond the pitfalls.