Financial Crises

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

Foreign Affairs Article

What Caused the Crash?

Author: Athanasios Orphanides

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.

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Op-Ed

The Great Deglobalizing

Author: Joshua Kurlantzick
The Boston Globe

During a seemingly successful trip to Asia in November, Barack Obama announced several breakthroughs. Among them was a promise that the United States and Asian nations would proceed toward the Trans-Pacific Partnership, or TPP, a free-trade deal that, if enacted, would create a free trade area with a total gross domestic product of more than $27 trillion.

See more in Global; Globalization; Financial Crises

Op-Ed

How the Fed Flubbed It

Author: Sebastian Mallaby
The Atlantic

CFR Senior Fellow Sebastian Mallaby reviews economic historian Barry Eichengreen's newest book Hall of Mirrors, which argues that history should have guided U.S. and European central bankers toward better decisions during the 2008 financial crisis.

See more in United States; Financial Crises