Since the beginning of the euro crisis last year, no solution to the crisis was possible without Germany, write AICGS Non-Resident Senior Fellow Dr. Ulrike Guérot and Mark Leonard, both of the European Council on Foreign Relations. Although Germany has now signaled it will do what it takes to save the euro, much of Europe is worried about the way this will be done; the authors argue that Germany needs to recast its approach to economic governance to avoid the creation of a two-speed Europe and put its economic might at the heart of a push to develop a global Europe.
In this week’s At Issue, Executive Director Dr. Jackson Janes discusses the declining value of the dollar versus the euro and the implications for both Germany and the United States in maintaining confidence in economic fundamentals at home and abroad.
The German people have developed a preference for the status quo, writes AICGS Trustee and former German Ambassador to the United States Wolfgang Ischinger. The world is fundamentally changing, yet German politicians are responding passively in concert with the status quo preference, a shortsighted view that does nothing but harm future generations of Germans and Europeans, Ischinger argues. This essay originally appeared in the July 6, 2011, edition of Der Spiegel.
As the financial crisis within the euro zone widens, governments have been at a loss for immediate action to resolve the situation. In an essay based off of his remarks given at a recent AICGS conference on Balancing Global Macroeconomic Discrepancies, Jacob Funk Kirkegaard of the Peterson Institute for International Economics suggests that the Brady Plan from the Latin American debt crisis in the 1980s might provide a good model for the euro zone as it tries to extricate itself from further crisis.
The outcome of the euro area meeting last week was far more substantive than expected, even if one takes into account that the expectations had been at rock bottom, writes Jacob Kirkegaard, research fellow at the Peterson Institute for International Economics and a regular contributor to the Advisor. Not only did EU leaders demonstrate how they intend to prevent peripheral defaults, they also gave us an idea of their longer-term solutions for Europe’s economic problems and future integration, Kirkegaard argues.
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In this week’s At Issue, Executive Director Dr. Jackson Janes examines the unfolding crisis in Libya and the potential lessons of past crises in the Balkans for Germany, the EU and, NATO.
Are the Americans the only ones who can talk seriously about how to help the Libyans and to maintain global balance? AICGS Trustee Ambassador John Kornblum, former U.S. Ambassador to Germany, ponders this question knowing that it is going to stay that way for the foreseeable future based on the perception that Europe cannot meet the new security challenges. Kornblum argues that a new strategy for Atlantic relations must be developed that demonstrates how Western values can help master the practical problems of globalization. The German version of this essay originally appeared in the March 8, 2011, edition of Die Welt.
Whether Muammar Qaddafi manages to maintain power in Libya or not, there will be no going back to the old order in the region, writes Dr. Ian Lesser, Senior Transatlantic Fellow at The German Marshall Fund of the United States and a regular participant in AICGS events. Libya looks set for a protracted period of turmoil, Dr. Lesser argues, and the strategic implications for North Africa, the Mediterranean, and transatlantic partners could be profound. This essay originally appeared in the blog of The German Marshall Fund of the United States.
Chancellor Angela Merkel has some major challenges ahead regarding the future of the euro, writes Senior Non-Resident Fellow Dr. Ulrike Guérot of the European Council on Foreign Relations (ECFR). Dr. Guérot argues that Chancellor Merkel’s options regarding reform efforts in the euro zone have been severely limited by domestic issues, and that her ability to reach a compromise with other EU countries depends on the outcome of these domestic developments. This essay originally appeared in the ECFR’s blog on February 24, 2011.
In this week’s At Issue, Executive Director Dr. Jackson Janes examines the political earthquake in Egypt and the challenges ahead post-Mubarak – not only for Egyptians but for Europe and the United States in assisting the transformations in a new era for Egypt and the Middle East.
Little more than a year after the passage of the Lisbon Treaty, the E.U. faces a much dimmer future, writes Doug Bandow, Senior Fellow at the Cato Institute and a regular contributor to the Advisor. The EU’s objective of becoming the globe’s third “Weltmacht,” alongside America and China, looks ever more like a fantasy, Bandow argues, especially as the financial crisis threatens European unity. This essay originally appeared in the author’s blog on Forbes online on February 7, 2011.
In this week’s At Issue, Executive Director Dr. Jackson Janes examines the current concerns about the future of the euro and the challenges of securing both consensus among the euro zone members and domestic political support for the European single currency, especially in Germany.