In his testimony before the Senate Committee on Foreign Relations' Subcommittee on Europe and Regional Security Cooperation, Robert Kahn argues that although Greece's direct trade and financial links to the U.S. economy are small and there is less of a direct systemic threat to the United States than when the crisis began in 2009, the risks are still material.
The Iran nuclear deal and subsequent UN Security Council resolution do little to bind the United States legally, though policymakers would face political pressure against reinstating sanctions, says CFR's John Bellinger.
Elizabeth C. Economy and Michael Levi explore how Chinese demand drive global commodity prices, the broader implications of the Chinese slowdown for the global economy and regional security, and consequences of China’s resource quest for the world’s resource-producing states and industries.
Council on Foreign Relations Senior Fellow Robert Kahnbreaks down the deal and explains what it means for the future of Greece and the European Union. Greece reached an agreement with European creditors that would impose harsh austerity measures in return for a financial bailout.
Leaders of euro member states held a special Euro Summit on Greece. On July 12, 2015, the leaders "agreed in principle that they are ready to start negotiations on an ESM [European Stability Mechanism] financial assistance programme for Greece."
Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn argues that if Greece exits the eurozone, introducing a new currency could occur quickly; getting broader economic policies right is the more difficult challenge facing the country.
Can Western governments learn anything from the Greek fiasco that will produce a better result in Ukraine? There are countless differences between the two situations, but one big similarity should worry us: In both countries an economic crisis has begotten a political crisis, and the two have begun to feed on each other.
As election season approaches, and global crises in Greece and elsewhere intensify, U.S. foreign policy is in a state of drift that puts the United States at the risk of falling behind its rivals, says Eurasia Group President Ian Bremmer.
Finance ministers from fifty-seven countries met in Beijing in October 2014 and signed a memorandum to establish the Asian Infrastructure Investment Bank (AIIB), which will focus on funding infrastructure to boost economic development in the Asia Pacific region. The Articles of Agreement were opened for signature on June 29, 2015 and must be ratifed domestically by December 31, 2016.
Crises are an inevitable outgrowth of the modern capitalist economy. So argues Martin Wolf, chief economics commentator for the Financial Times, in his authoritative account of the 2008 financial crisis. Instability reveals itself in the form of shocks; even a seemingly small deviation from the norm can set off a major crisis.
The Council on Foreign Relations' David Rockefeller Studies Program—CFR's "think tank"—is home to more than seventy full-time, adjunct, and visiting scholars and practitioners (called "fellows"). Their expertise covers the world's major regions as well as the critical issues shaping today's global agenda. Download the printable CFR Experts Guide.
The authors argue that the United States has responded inadequately to the rise of Chinese power and recommend placing less strategic emphasis on the goal of integrating China into the international system and more on balancing China's rise.
Campbell evaluates the implications of the Boko Haram insurgency and recommends that the United States support Nigerian efforts to address the drivers of Boko Haram, such as poverty and corruption, and to foster stronger ties with Nigerian civil society.
Learn more about CFR’s mission and its work over the past year in the 2014 Annual Report. The Annual Report spotlights new initiatives, high-profile events, and authoritative scholarship from CFR experts, and includes a message from CFR President Richard N. Haass. Read and download »