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On Defense, France Bites the Bullet, But Avoids Strategic Insolvency May 7, 2013
Iceland’s Recovery Saga Presents Opportunities for Brussels, Washington—and Beijing May 6, 2013
Which Way Forward for Europe’s Hybrid Regimes? May 2, 2013
The Arab Revolts and the Liberal Order May 2, 2013
Events
Andrew Light Speaker Tour in Europe May 14, 2013 / Berlin, Germany; Brussels, BelgiumGMF Senior Fellow Andrew Light participated in a speaking tour in Europe to discuss opportunities for transatlantic cooperation on climate and energy policy in the second Obama administration.
In this podcast, GMF Vice President of Programs Ivan Vejvoda discusses last month's historic agreement to normalize relations between Kosovo and Serbia.
Anchor Elaine Reyes speaks with Andrew Small, Transatlantic Fellow of the Asia Program for the German Marshall Fund, about Beijing's potential role in brokering peace between Israel and Palestine
Events
The Euro crisis, a perspective from the United States March 30, 2011 / Paris, France
On Wednesday March 30, the GMF Paris office hosted Senior Transatlantic Fellow Bruce Stokes for a conference on the “Euro crisis, a perspective from the United States,” in collaboration with the Groupe d’Economie Mondiale (GEM-Sciences Po), headed by moderator Patrick Messerlin. The gathered audience included 25 experts from French and European institutions, think tanks, and research centers.
Bruce Stokes (GMF) presented the Euro crisis from an American perspective and suggested a number of possible public policy options in response. Firstly, he acknowledged the wide lack of recognition in the U.S. of Euro problems, explaining the reasons why Europe is not regarded by many there as a priority - despite being such a large export market of the United States. Secondly, because Europe has a monetary policy but no fiscal policy, it has been difficult for it to manage foreign expectations. He said the ambiguity from the United States was based on the feeling that Europe didn't move fast enough during the time of the crisis (although he added that many in the United States do not understand how much progress the EU has actually made in a year).Patrick Messerlin (Director, Groupe d’Economie Mondiale, Sciences Po and Chair, 2011-2012 Global Trade Council, World Economic Forum) argued that accepting to being part of the Eurozone should have meant states accepted regulatory reforms. He added that the current distinction and heterogeneity of the Eurozone is the consequence of the absence of regulatory reform. Secondly, added it was necessary to push for very serious “stress tests” of the banks. He also reminded participants that when looking at the macroeconomic situation today, it was important to take the austerity regime into account. Steve Szabo (Transatlantic Academy) noted that Beijing would not be shy on using its influence: if they offer a service like letting countries borrow money from them, they would expect benefits in foreign and strategic policy.
Patrick Messerlin and Bruce Stokes both concluded on a need to deepen a free trade agreement in transatlantic markets, as well as strengthening the IMF for the future.