Clark Center Forum

Anil K Kashyap and Francesco Giavazzi With Italy now paying the same rates as Spain to finance its debt, the European crisis has reached a critical stage. To prevent the possible demise of the single currency, the European Union now must come up with a credible plan to address the future of the euro area. […] 

 

 

 

 

Greek debt is in trouble—again. After a month of dickering, it seems likely that the International Monetary Fund and the European Union will agree to roll over Greece’s debt so bondholders will be paid in full. Why is Europe so terrified of letting bondholders bear some of the risk that comes with high yields? Read […] 

Although China has been churning out its share of unpleasant news, many onlookers don’t consider its problems as serious as those of other big economies. They should think again. China’s biggest economic challenges are political in nature and daunting, and will almost certainly get worse. That is because its autocratic system, for all the stability […]