The Greek Debt Crisis: Shaping a Compromise

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by Molly Shutt The ongoing negotiations between the Greek government and international creditors looking to reach a deal on the terms for bailout funds have been tense, accusatory and largely inconclusive. With the next official meeting of Eurozone finance ministers on April 24th, Athens has attempted to placate creditors to secure a third bailout and gain access to €7.2 billion …

Weaker Euro, Stronger Dollar: Implications for the Transatlantic Economy

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by Michael Landry The success of firms engaged in international trade is, to a large degree, tied to the value of their domestic currencies – a reduction in the value of a given firm’s home currency generally increases demand for its exports, while an increase in value lowers demand. Many investors looking at growth expectations believe there are likely to …

The European Union in 2014: Challenges and Opportunities

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Part I: Self-Reflection and Internal Reform by Nicholas Hager The European Union invested a great deal of time and effort into preparing Ukraine to sign an Association Agreement with it, which would have benefitted both parties. This agreement would have brought about widespread sectorial renovation and integration, but it would also have secured a stronger EU foothold in Eastern Europe, …

Mending Broken Bonds: The Past, Present, and Future of Euro Area Banking

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by Johann Benson While speaking in Shanghai recently, European Central Bank (ECB) President Mario Draghi summed up the current state of affairs in the Eurozone: “…the most salient feature of this new reality is financial fragmentation across euro area countries.” This remark comes on the heels of the latest Bank of International Settlements (BIS) report, which showed further decreases in …

Charting a New Direction for France and Europe: How Hollande Will Steer His Country and the Continent

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by Geoff Atchison Stepping into office May 15th as the first Socialist president of France in 17 years, François Hollande marks a strong departure from the center-right policies of his predecessor, Nicolas Sarkozy, and intends to focus on leading the country towards economic growth and a balanced budget. Having served in his new position only three weeks, Hollande has already …

Is an EU-wide Minimum Wage the Solution?

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by Uzoma Ekenna According to a recent news report from EurActiv, on April 18 The European Commission proposed instituting an EU-wide minimum wage, increasing the current salary in many nations and introducing a minimum wage for the first time in others.  “Setting minimum wages help prevent a destructive race to the bottom in the cost of labour, and are an …

Two Takes on the Eurozone Crisis Part II: Marco Fantini

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by Mitch Yoshida In response to the Eurozone crisis, European policymakers have agreed to numerous measures aimed at addressing its underlying causes. In this context, Marco Fantini – a European Commission official who heads the Directorate-General of Taxation and Customs’ Quantitative Analysis Section – explains the Commission’s growing role in reforming EU Member States’ tax policies; how this could boost …

Two Takes on the Eurozone Crisis Part I: Steve H. Hanke

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by Mitch Yoshida Now in its third year, the Eurozone crisis continues to weigh on the future of the common currency area and the global economy. Recently, I had the opportunity to discuss the prospects for its resolution and its broader implications with Streit Council Board Member Steve H. Hanke, a Professor of Applied Economics at Johns Hopkins University and …

Protests in Southern Europe Have Yet to Sway Leaders

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By Wesley Uhl The calls for change from the alienated youth of Southern Europe are sincere, garnering support from across each country. The citizens of Greece, Italy, Portugal, and Spain are fed up for good reason: mistakes were made and it’s difficult to see a way out of this debt crisis. Even if the alternative is default, it’s not easy …

Should Greece Exit the Eurozone?

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By Rodrigo Sermeno The recent problems in the Eurozone have brought to the fore doubts about whether the European Union (EU) will survive unscathed from the sovereign debt crisis. The uncertainty surrounding the crisis in the Eurozone has divided opinion about the EU’s future into two different camps: those arguing for further integration and those calling for a break up. …