Deep Dive can europe be saved?

Can Europe’s struggling economies be saved or are we too far down the road to meltdown? Will the contagion reach the United States? And what’s at the root of the crisis — political or economic dysfunction? In this edition of the Foreign Policy/Brookings Institution Deep Dive, we delve into the dimensions of the European debt crisis, the potential solutions, and the future of the eurozone and global financial system — starting with a briefing on how the IMF could rescue Europe by Brookings scholars Domenico Lombardi and Sarah Puritz Milsom. Former Obama administration economic adviser Larry Summers, Pimco CEO Mohamed El-Erian, Berkeley economist Barry Eichengreen, and others also weigh in — with almost uniformly gloomy news. Thankfully, our contributors also offer prescriptions for a solution to the eurozone crisis — ranging from conditional Eurobonds to sweeping bank bailouts to a wholesale retreat from neoliberalism. As Europe takes its first furtive steps toward greater fiscal unity while Britain lingers behind, markets churn, and periphery economies wobble — this in-depth special report couldn’t be more timely.

• Downward Spiral
  By Mohamed El-Erian

• The Last Hope for Redemption
  By John Muellbauer

• Keeping Markets Happy
  By Rick Rowden

• It’s the Politics, Stupid
  By Kathleen McNamara

• A Bridge to Nowhere
  By Barry Eichengreen

• BRIEFING: Weighing Options for Unconventional IMF Interventions
  By Domenico Lombardi, Sarah Puritz Milsom

• Where There’s a Will…
  By Mark S. Sheetz

• An Interview With Larry Summers
  By Uri Friedman

• Bitter Medicine
  By Karl Smith

• The Reluctant Firewall
  By David Bosco

• A Watchful Eye
  By Martin S. Edwards

• China to the Rescue?
  By Jean Pisani-Ferry