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June 15, 2012 The World This Week The Fate of the Monetary Union Lies in Germany’s Hands Sebastian Mallaby If the eurozone splinters, it will have been an avoidable disaster. The European Central Bank has already gone to great lengths to shore up the continent's financial system. Now, the choice lies with Germany, which can save the monetary union if it allows for policies aimed at debt relief and growth, not just slashing deficits. Read more in Foreign Affairs » What Is at Stake in Greece's Parliamentary Elections? Greek elections this weekend will likely determine whether Greece stays in the eurozone. The outcome may also foretell whether the eurozone's two-year-old sovereign debt crisis will plunge the single-currency union–and perhaps the global economy–back into a full recession. Read the Backgrounder » G20 Summit Overshadowed by Euro Crisis James A. Haley, Andres Rozental, Lars Brozus, Maria Monica Wihardja The eurozone crisis is expected to dominate the G20 summit in Mexico on June 18-19. The summit's agenda includes bolstering the group's relevance, stabilization and structural reforms in Europe, strengthening financial regulation, and more. Read the Expert Roundup » Pressures Mount for the U.S. Economy A. Michael Spence Policy inertia in Washington has heightened threats to the economy from unemployment, the eurozone crisis, and other global pressures. Read the interview » Europe Knows There's Little Time to Act on the Crisis Timothy F. Geithner Europe is in the next stage of a major escalation in its strategy to make the euro work and contain the crisis by creating a banking union, building a stronger bailout fund, and spurring growth. Read the CFR meeting transcript » The World Ahead The Road to Nowhere Edward Alden Americans have a golden opportunity to rebuild their crumbling transportation infrastructure, details a new CFR report. But congressional squabbling, backed by public ambivalence, could doom this chance. Read the blog post and view the graphic on Renewing America » U.S. Should Approve Law of the Sea Convention John B. Bellinger III The Law of the Sea Convention is beneficial to the United States military, especially during a time of armed conflict, because it provides clear treaty-based navigational rights for the Navy, Coast Guard, and aircraft. Read the testimony » Iraq's Future Is a Question Mark Ned Parker Ongoing violence and corruption in Iraq since the U.S. military pullout could augur a return to full-on sectarian strife and continued poor governance. Read the interview »
The World Next Week: Egypt Votes, Iran Talks, and G20 Leaders Gather Each week, CFR.org editor Robert McMahon and Director of Studies James M. Lindsay preview world events in the week ahead. This week, they discuss the Egyptian presidential run-off election, the P5+1 nuclear talks with Iran, and the start of the G20 and Rio+20 summits. Subscribe to the Podcast
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World Events Calendar June 16 - 17: Presidential Election Runoff, Egypt
CFR Resources on: Egypt's politics » June 17: Legislative election, Greece
CFR Resources on: Greece » June 18 - 19: G20 Summit, Mexico
CFR Resources on: economics » View the Calendar »
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