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  • Publication Date: 01-2009
  • Content Type: Journal Article
  • Journal: European Affairs
  • Institution: The European Institute
  • Abstract: Beneath the mantra about a coordinated global response to the economic crisis, a line of fracture starkly divides the two sides of the Atlantic about what to do in practice to revive the sinking economies. In Washington, the Obama administration is accepting an unprecedented amount of government debt in order to pump money into the hands of consumers who can spend it and revive business. An Obama aide says that Canada, France, Germany and are not matching the U.S. effort with stimulus spending of their own and should do more. No, answer Ms. Merkel and Mr. Sarkozy - firmly but politely, so far - this is the wrong approach, the wrong priority. The global financial rules need to be overhauled before more money is pumped into it, they say, because the real problem is the lack of confidence in a recent U.S. model of capitalism that has collapsed. And, they say privately, America is to blame for the problem, so America should pay to fix it.
  • Topic: Economics
  • Political Geography: America, Washington, Canada, France, Germany
  • Author: Douglas Rediker
  • Publication Date: 01-2009
  • Content Type: Journal Article
  • Journal: European Affairs
  • Institution: The European Institute
  • Abstract: Seeking a global response to the crisis, the U.S. assigns priority to coordinated stimulus. Germany, France and some other European nations emphasize better global financial regulation - perhaps partly to punish Wall Street but also to prevent a recurrence of abuses. Leadership now by Obama is needed on both issues because the world's confidence and trust in U.S.-style capitalism has been shaken.
  • Topic: Security, United Nations
  • Political Geography: United States, Europe, France, Germany
  • Publication Date: 01-2009
  • Content Type: Journal Article
  • Journal: European Affairs
  • Institution: The European Institute
  • Abstract: The American economic guru explains how he missed the signs that the economy was going off a cliff during the decade he was chairing "the Fed," the body that functions as the U.S. central bank. A strong believer that markets can self-regulate thanks to the enlightened self-interest of the players, he failed to recognize the danger signals of the U.S. financial collapse that also engulfed Europe.
  • Topic: Government
  • Political Geography: United States, America, Europe
  • Author: Martin Walker
  • Publication Date: 01-2009
  • Content Type: Journal Article
  • Journal: European Affairs
  • Institution: The European Institute
  • Abstract: David Smick's book, The World Is Curved, explains that financial engineering has outpaced the understanding of regulators and governments - and even of many of the people involved in the business. His book, reviewed by journalist and consultant, Martin Walker, predicts that worse is still to come for the U.S. and also for highly-leveraged banks in Europe holding "toxic" assets.
  • Topic: Economics
  • Political Geography: United States, China, America
  • Author: Bruno Tertrais
  • Publication Date: 01-2009
  • Content Type: Journal Article
  • Journal: European Affairs
  • Institution: The European Institute
  • Abstract: France's newfound enthusiam for rejoining NATO's military command, announced by President Sarkozy at this author's Paris think tank, underlines an upbeat perspective. A chorus of voices are warning that NATO may fracture over Afghanistan, but history shows the alliance's unexpected resiliance since the end of the cold war - and its continuing capacity to adapt.
  • Topic: NATO, Cold War
  • Political Geography: Afghanistan, France
  • Author: Rumu Sarkar
  • Publication Date: 01-2009
  • Content Type: Journal Article
  • Journal: European Affairs
  • Institution: The European Institute
  • Abstract: A new theme among strategists stresses the need for redefining future military missions to include more emphasis on winning the hearts and minds of civilians. If this task is seen as essential for redrafting operational doctrines for Western militaries, planners also should consider some radical practical changes in defining the desirable profile for soldiers and training.
  • Topic: United Nations
  • Political Geography: Africa, Europe
  • Author: Courtney N. Meyers
  • Publication Date: 01-2009
  • Content Type: Journal Article
  • Journal: European Affairs
  • Institution: The European Institute
  • Abstract: Timed for the Obama administration's Pentagon, this RAND study says government leaders should take more account of the lessons learned from people "on the ground" in recent successful (and unsuccessful) ventures in state-rebuilding. Best practice means strong local command (involving the military under civilian leadership) which is heeded in national capitals.
  • Topic: International Law, United Nations
  • Political Geography: United States, America
  • Author: Pekka Sutela
  • Publication Date: 01-2009
  • Content Type: Journal Article
  • Journal: European Affairs
  • Institution: The European Institute
  • Abstract: Generalities are not very useful in discussing the energy problems of "Europe" because so many issues are country-specific. But there are some key overall aspects - notably the risk that Russia may not be able to export much more gas any time soon, even if it wants to. So European companies should work at helping Russia improve its energy efficiency to prolong supply.
  • Topic: Economics
  • Political Geography: Russia, Europe
  • Publication Date: 01-2009
  • Content Type: Journal Article
  • Journal: European Affairs
  • Institution: The European Institute
  • Abstract: Nuclear Energy: A New Future in Europe Nuclear energy is regaining favor as an environment-friendly technology.
  • Political Geography: Europe, Germany
  • Author: C. Boyden Gray
  • Publication Date: 01-2009
  • Content Type: Journal Article
  • Journal: European Affairs
  • Institution: The European Institute
  • Abstract: Europe's worst energy vulnerability - natural gas - has environmental implications. Without more supplies, power for growth is likely to be fueled by coal and accelerate global warming. Russia could export more gas (and flare less) if the Kremlin broke up the domestic pipeline monopoly enjoyed by Gazprom. Europe could use its "competition authority" to challenge it.
  • Topic: Government
  • Political Geography: Russia, Europe, Germany