• Venezuela's Cryptocurrency: Should OFAC Be Petrofied?

    Venezuela's Cryptocurrency: Should OFAC be Petrofied?

    The short answer is no.

  • Are Italians Giving the Establishment the Boot?

    Italians go to the polls on March 4th to elect a new government. Under a new electoral system, the outcome is uncertain. The Global Business and Economics program looks at some key economic indicators that could influence the election.

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  • Secondary Sanctions: A First Glance

    This edition of our EconoGraphic blog explains the difference between primary and secondary sanctions, outlines how secondary sanctions work, and uses a case study to demonstrate how the United States employs secondary sanctions in the real economy. 

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  • The Irish Border Question

    The future of the Irish border is one of the key sticking points in the ongoing Brexit negotiations between the European Union (EU) and the United Kingdom (UK).
  • Parties Supporting Independence Win Slim Majority, But Catalonia’s Complex Stalemate Continues

    The outcome of yesterday’s regional elections in Catalonia reflects the electorate’s deep polarization on the issue of regional independence.

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  • The United States Needs Europe And Vice Versa (Pt. 2)

    US economic ties with the European Union (27) generate the largest global bilateral trade flows, worth an estimated $2.4 billion per day. The massive volume of US-EU (27) bilateral trade promotes prosperity on both sides of the Atlantic.

    In 2015, the total value of US goods and services trade with the EU (27) reached $869.5 billion. The United States had $589.7 billion in total bilateral goods trade with the EU (27), its second largest goods trade partner. US trade in services (exports and imports) with the EU (27) was $279.8 billion.

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  • Refer-Ending Renzi's Government

    On December 4, Italian voters rejected former Prime Minister Renzi’s constitutional reform referendum. The result of the referendum renewed concerns about the economic recovery in Italy, stability of the Euro, broader European economic integration, and rising populism across Europe. In the week following the referendum, global markets have focused their attention on the ailing Italian banking sector. The Italian banking system is undergoing a serious restructuring in an effort to raise capital and increase profits. The €360 billion in non-performing loans (NPL) on Italian banks’ books – about one-third of the Eurozone’s total – underscore why shares of Italian banks have declined by ca. 50 percent since the beginning of 2016.
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  • The United States Needs China and Vice-Versa

    Over the last decade, China’s large holdings of US debt have helped the Bank of China keep the value of the renminbi artificially low. This strengthened China’s competitive position in the global markets, allowing for cheaper Chinese exports and contributed significantly to China’s large trade surplus, which now accounts for about half of the total US trade deficit.

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  • CETA: Why "Comprehensive" Matters

    On October 14th, the regional parliament of Wallonia, a French-speaking region of 3.6 million people in Belgium, voted to block the Comprehensive Economic and Trade Agreement (CETA), a proposed trade agreement between the European Union (EU) and Canada, which has been negotiated for over 7 years. To implement the agreement, it must be ratified by 28 national parliaments and 10 other regional assemblies and upper houses in the EU; Belgium cannot sign the agreement without Walloon support. At the end of last week, the EU issued an ultimatum urging Wallonia to end its objection to the agreement before Monday. Wallonia, which calls for stronger safeguards on labor, environmental, and consumer standards, rejected the ultimatum, threatening to cancel an EU-Canada summit planned for Thursday (October 27) to sign the accord.

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  • Europe′s Fiscal Burden in Focus

    The European Union’s (EU) Stability and Growth Pact requires Eurozone countries to annually lay out their fiscal plans for the following three years. The European Commission (EC) then compares the member states’ reports with its own projections and those produced by independent bodies, such as the International Monetary Fund (IMF), to evaluate whether the member states are on track to reach their Medium-Term Budgetary Objectives (MTOs). It is important to note that Eurozone countries’ macroeconomic forecasts usually diverge, sometimes significantly, from the reports produced by the EC and the IMF. 

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