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 ...

By FP Staff

December 15, 2011, 7:02 PM

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.

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.

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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