In the past, U.S. and European negotiators have tried and failed to create a unified transatlantic market. But the trade talks that President Obama announced this month have a much better chance of succeeding, thanks to a greater need for economic growth on both sides, the threat of China’s illiberal economic behavior, and the desire …
Blogs / Op-Eds
Macro-Prudential Policies in Turkey (Roubini)
By Heiko Hesse. Turkey’s economy has long been subject to boom-bust cycles linked to capital flows. And while the Turkish banking system continues to perform well, it faces some structural vulnerabilities that can pose financial stability risks. In common with peer countries, Turkey has been developing and implementing a macroprudential policy (MPP) framework, which has had …
Financial Spillovers and Deleveraging: The Case of Romania (Roubini)
By Heiko Hesse. This blog looks at foreign bank deleveraging and examines how Romania’s asset prices have been impacted from European crisis spillovers. Foreign bank deleveraging has been orderly and moderate so far in Romania unlike in some peer countries. Findings from the spillover analysis suggests that Romania’s asset markets tend to co-move more closely with its …
The Promethean Dilemma in Third-Party Nation-Building (The Monkey Cage)
By Keith Darden and Harris Mylonas [First published on The Monkey Cage] The killing of the US Ambassador last week in Benghazi and the recent wave of attacks on NATOpersonnel by uniformed Afghan police and military highlight the perils of international efforts to build states and societies on foreign soil. Why is it that the people we arm …
September Is the Cruelest Month (Foreign Policy)
September Is the Cruelest Month Welcome back from summer holiday, Europeans! Get ready for 30 days that will determine the fate of your continent. By Tyson Barker http://www.foreignpolicy.com/articles/2012/08/30/september_is_the_cruelest_month?page=0,1 When German travelers return from their hallowed August vacations this week, they will find that the euro is gone — at least as far as Frankfurt airport …
Romney’s Trans-Atlantic Policy Needs a Reboot (Spiegel Online)
Romney’s Trans-Atlantic Policy Needs a Reboot A Commentary By Annette Heuser and Tyson Barker Likely Republican presidential candidate Mitt Romney will visit the United Kingdom and Poland at a time when the GOP’s policy toward Europe seems to be trapped in the days of the Cold War. It will be a chance for him to …
Integrating the EU Defence Market: An Easy Way to Soften the Impact of Military Spending Cuts? (Brookings)
Opinion | July 12, 2012 Integrating the EU Defence Market: An Easy Way to Soften the Impact of Military Spending Cuts? By Clara M. O’Donnell http://www.brookings.edu/research/opinions/2012/07/12-eu-defense-odonnell As many European countries introduce their biggest defence budget cuts in years, they have been exploring ways to limit the impact on their armed forces. There has been much talk within the …
Are Europeans a Better Transatlantic Security Partner than Meets the Eye? (Brookings)
Are Europeans a Better Transatlantic Security Partner than Meets the Eye? By Clara M. O’Donnell and Patryk Pawlak http://www.brookings.edu/research/opinions/2012/07/06-security-partner-odonnell The latest wave of European military spending cuts is swelling the ranks of Americans who believe that Europeans are not contributing enough to global security. But this assessment is too harsh. It is true that Europeans spend less on …
The Implications of Military Spending Cuts for NATO’s Largest Members (Brookings)
The Implications of Military Spending Cuts for NATO’s Largest Members Paper http://www.brookings.edu/research/papers/2012/07/military-spending-nato-odonnell AUTHORS Andrew Dorman Professor of International Security, King’s College London, and Associate Fellow, Chatham House Bastian Giegerich Senior Researcher, Bundeswehr Institute of Social Sciences, and Consulting Senior Fellow for European Security, International Institute for Strategic Studies Camille Grand Director, Fondation pour la …
Room for manoeuvre: The deleveraging story of Eurozone banks since 2008 (VOX)
Room for manoeuvre: The deleveraging story of Eurozone banks since 2008 Claus Puhr, Stefan W Schmitz, Ralph Spitzer, Heiko Hesse, 14 June 2012 In the following column we investigate balance-sheet growth, capitalisation, and deleveraging of European banks since the end of 2008 and show that based on existing empirical evidence banks have so far reduced their …