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looking beyond borders

foreign policy and global economy

Archive for the tag “Euro”

The Euro Turns 20

The euro’s first 20 years played out very differently than many expected, highlighting the importance of recognizing that the future is likely to be different from the past. Given this, only a commitment to flexibility and a willingness to rise to new challenges will ensure the common currency’s continued success.

Read Here – Project Syndicate

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The Geopolitics Of London: Or, How England Joined The World

Photo by Luca Micheli on Unsplash

Were London a city-state, it would have the 20th-largest national economy in the world – larger than the national economies of Saudi Arabia, Argentina and South Africa. Were London a city-state, its national per capita gross domestic product would be greater than that of the United States. Were London a city-state, it would be the 15th most populous country in Europe, with an overall population bigger than that of Austria or Denmark and bigger than the combined populations of Scotland and Northern Ireland.

Read Here – Geopolitical Futures

Germany’s Identity Crisis

For weeks, Germany’s debate over the refugee crisis focused on the logistics of housing and feeding the thousands arriving at the border every day. With more than 1 million refugees expected this year alone, the foremost question was whether Germans, as Chancellor Angela Merkel keeps insisting, can really “manage it.”

Read Here – Politico

China Has Lots of Treasuries, Not Much Leverage

During the last U.S. presidential election, an editorial in a Chinese state-run newspaper declared that if Washington insisted on flouting Chinese interests (by selling arms to Taiwan, for example), Beijing should “use its financial weapon to teach the U.S. a lesson.” Three years later, America owes even more to China than the $1.16 trillion it owed then. But the increase in debt holdings hasn’t translated to an increase in leverage; quite the opposite, writes William Pesak.

Read Here – BloombergView

What Europe Should Learn From Asia’s Crisis

Asian leaders could be excused a degree of exasperation over the ongoing Greek mess. China’s slowdown and stock-market chaos are worry enough; the last thing the export-dependent region needs is a Europe in chaos. Worse, European leaders seem intent on misreading or ignoring lessons from Asia’s own brush with collapse.

Read Here – Bloomberg

Greece’s Agreed-Upon Plan Looks A Whole Lot Like the One It Just Rejected

In the wee hours of Monday morning, after a marathon 17-hour session, Greece finally agreed to a deal with the euro zone that would give it enough cash to start reopening its shuttered banks, pull it out of arrears, and stave off its exit from the euro. In some ways this deal (or any deal) might be seen as a victory, pulling Greece back from the brink of the possibly disastrous expulsion from the euro—but the accepted proposal also marks some pretty significant defeats at the end of a months-long struggle, with Greece conceding to many of the conditions it fought so hard against.

Read Here – The Atlantic

The Moral Of The Greek Story

It’s easy to moralize Greece’s feckless borrowing, weak tax collection and long history of default, and hey, go ahead; I won’t stop you. But whatever the nation’s moral failures, what we’re witnessing now shows the dangers of trying to cure the problems of weak fiscal discipline with some sort of externally imposed currency regime.

Read Here – Bloomberg

Germany Takes Command

On Nov. 9, Berlin will celebrate the 25th anniversary of the fall of the wall that divided the city during much of the Cold War. At the time, images of exuberant wall-breakers signaled the end of communism. A quarter-century later, the event seems to have also been a prelude to the rebirth of Berlin and the emergence of Germany as Europe’s supreme power, writes Pankaj Mishra.

Read Here – Bloomberg

Going Abroad With The Yuan

The internationalization of China’s currency is underway, albeit with some important hurdles still to clear.

Read Here – The Diplomat

A German Empress No More

So Merkel-Land is looking at stasis, thanks to too much chumminess among the parties. In the next four years, we won’t be seeing any more magazine covers celebrating Angela I as “queen” or “empress” of the Continent.

Read Here – Bloomberg

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