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The US must lead with allies or risk becoming a bystander in a reshaped international financial system. As the global economy struggles to recover from COVID-19 and rising powers like China assert economic influence, this mission is critical to the long-term prosperity of the United States and its allies. Strong collaboration between the public and private sectors can help revitalize open markets for the twenty-first century.

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New Atlanticist

Aug 6, 2011

Crisis? What Crisis? How to Save a Debt-Drowning Planet

By Julian Lindley-French

In late 1979, with the public service unions on strike and with the national debt spiraling out of control, Britain began to resemble a toilet. Prime Minister Jim Callaghan returned from a ‘summit’ in Guadeloupe (they never seem to hold summits in Rotherham or Detroit). The Sun, one of Britain’s Murdoch tabloid newspapers, famed for […]

Economy & Business

New Atlanticist

Aug 4, 2011

The European Union’s Fort Sumter Moment

By Sarwar Kashmeri

In 1776, the founding fathers of the United States made a grand bargain to ensure the birth of a new republic. They agreed to sideline the new country’s black population, even though the Constitution they were about to endorse proclaimed that all men are created equal. This compromise ensured approval of the constitution and the […]

Economy & Business European Union

New Atlanticist

Aug 4, 2011

Unthinkable is Reality

By Arnaud de Borchgrave

The nail-biting, cliff-hanger produced something that didn’t pass mental math. To raise America’s $14.3 trillion federal debt ceiling hours ahead of Tuesday’s deadline by $2.4 trillion in two stages while committing to equal spending cuts over 10 years — still with me? — was more fool’s bargain than bargain basement. The complete collapse of the […]

Economy & Business United States and Canada

New Atlanticist

Aug 2, 2011

Fiddling Whilst the West Fails: The Great Globalisation Disaster

By Julian Lindley-French

“Forget these frivolous demands which strike a terror to my fading soul”. So Mephistopheles beseeches Marlowe’s Dr Faustus. With American politicians not so much debating whether or not to sell America’s soul, but for what price, the most profound of strategic questions is now apparent. For how long does the West support a system of […]

Economy & Business

New Atlanticist

Aug 1, 2011

Slouching Towards a Fiscal Union

By Ben Carliner

It is an old cliché that the European Union only advances in the wake of a crisis. Recently though, it has seemed like every time the EU takes action its response is deemed too little too late.

Economy & Business European Union

New Atlanticist

Jul 27, 2011

The Debt Ceiling Crisis and National Security

By Don Snow

It is a central tenet of the right-wing, generally Republican, overwhelmingly pro-TEA Party movement that wields a stranglehold on the U.S. House of Representatives that the central government is not good for much. It does not, of course, put its belief in quite those terms, but nonetheless, that is the libertarian spirit in terms certainly […]

Economy & Business

New Atlanticist

Jul 25, 2011

EU and US Face Economic, Leadership Crises

By James Joyner

European leaders have put another Band Aid on the Greek sovereign debt crisis while America’s leaders are trying to stave off a self-inflicted financial default. Meanwhile, pundits are credulous that the leaders won’t actually lead. Tufts international political economy expert Daniel Drezner notes that this affliction is especially strong among his fellow foreign policy wonks: To those who […]

Economy & Business European Union

New Atlanticist

Jul 25, 2011

Greek Rescue Package Kicks Can Down The Road Yet Again

By Hugh De Santis

Last Thursday’s bailout of Greece by the principal actors in the sovereign debt crisis –France, Germany, and the European Central Bank – has buoyed the spirits of European credit and stock markets. But the agreement does little more than paper over Europe’s sovereign debt crisis. It neither resolves Greece’s inability to pay its debts nor […]

Economy & Business European Union

New Atlanticist

Jul 22, 2011

Self-Inflicted Wounds: West Forfeiting Global Leadership

By Alexei Monsarrat

Maybe it’s the heat here in Washington, but the news from Brussels and down the street from Congress leaves my mind baffled and my blood boiling. While Europe has ended the week slightly ahead of the United States in restoring confidence that maybe they won’t let their economy tank, it still feels an awful lot […]

Economy & Business European Union

New Atlanticist

Jul 13, 2011

Euro-Crunch: The Grim Banker is Calling

By Julian Lindley-French

“If there is no relief, we are going straight into the abyss”. So says, Romano Prodi, one-time Italian Prime Minister and President of the Onion’s European Omission. As European Onion finance ministers gathered in Brussels to disagree about what to do over the deepening Eurozone crisis the sheer scale of the crisis and its potential […]

Economy & Business European Union

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