Economics

Testimony

Greece's Euro Future and U.S. Policy

Author: Robert Kahn

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.

See more in Greece; Eurozone; Financial Crises

Article

By All Means Necessary: How China’s Resource Quest Is Changing The World

Authors: Elizabeth C. Economy and Michael A. Levi
All China Review

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.

See more in China; Financial Markets; Environmental Policy

Event

Media Call: Greek Bailout Agreement

Council on Foreign Relations Senior Fellow Robert Kahn breaks 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.

See more in Greece; Budget, Debt, and Deficits

Primary Sources

Euro Summit on Greece Statement

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."

See more in EU; Greece; Eurozone

Op-Ed

Greece’s Lesson for Ukraine: More Populism, Please

Author: Stephen Sestanovich
Wall Street Journal

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.

See more in Greece; Ukraine; Financial Crises; Politics and Strategy

Primary Sources

Articles of Agreement of the Asian Infrastructure Investment Bank (AIIB)

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.

See more in Asia and Pacific; Banks and Banking