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European Monetary Union

After Greece: Saving EMU

Stephen G. Cecchetti | Posted 08.06.2015 | Business
Stephen G. Cecchetti

Euro-area leaders announced yet another agreement with Greece in mid-July. However, the survival of the euro area has never been about the fate of Greece. Instead, it is whether the Europeans will implement the reforms necessary to keep the euro area together.

A Fading Vision of "Europe"?

Charles Heck | Posted 07.07.2013 | World
Charles Heck

All this has raised enormously the political stakes involved in sustaining the eurozone and European economic advancement. How can the needed sustained political heavy-lifting be accomplished if members no longer share a vision of political union in the long term?

Implications of Europe's Stumble in Cyprus

Daniel Wagner | Posted 05.19.2013 | Business
Daniel Wagner

Cyprus has, for the first time, demonstrated there is in fact a limit to what northern European countries will do to preserve the illusion that Euro land can remain a cohesive and equal entity.

The Euro: Bad Idea, Poorly Executed, Hard to Fix

David Backus | Posted 12.15.2012 | Business
David Backus

The euro crisis combines, in our view, a sovereign debt crisis and a banking crisis, with mutually adverse feedback between the two. But design flaws in the system magnified their impact and feedback.

August 1912

Neil McCarthy | Posted 10.09.2012 | Politics
Neil McCarthy

One hundred years from now, a new crop of historians will have spent their careers puzzling over the mindlessness of a governing class that ignored reality and assumed the worst could never happen.

The Euro Exit

Tom Cooley | Posted 08.14.2012 | World
Tom Cooley

EMU leaders are running out of time in their efforts to save the euro. Only decisive action can work -- and there still would be no guarantee of success. In the United States, it took a Civil War to settle that monetary union once and for all.

World Stocks Drop As Worries Over Greece Intensify

AP | PAMELA SAMPSON | Posted 07.14.2012 | Business

BANGKOK — Asian stock markets fell Tuesday, rattled by a political impasse in Greece that could lead the debt-stricken country to a disorderly a...

The Euro Has Been an Accident Waiting To Happen

Warren Mosler | Posted 05.25.2011 | Business
Warren Mosler

I am currently reminded, in the these times of sustained concern about the Euro, that I used to say "It's an unstable equilibrium." It is like balancing a marble on top of an upside down bowl; once it starts to move it accelerates downward.