Gideon Rachman comments that while European Central Bank President Mario Draghi's recent promise of "unlimited" purchases of sovereign bonds will help save the beleaguered euro, it will also bring increased political and economic unhappiness in Europe.
Wolfgang Münchau writes that despite isolating himself from his peers in the European Central Bank, Jens Weidmann, president of the Deutsche Bundesbank, is actually winning the debate about future ECB policy.
George Soros explains the events that led to the recent bond purchase announcement by the European Central Bank solidifying its commitment to do whatever it takes to save the euro, and discusses the larger political implications this decision will have for the future of the European Union.
Benn Steil's column in Dow Jones' Financial News, co-authored with Dinah Walker, provides new evidence highlighting the endemic flaws in LIBOR as both a benchmark for setting market lending rates and a central-bank metric for judging policy effectiveness.
Ongoing investigations into Barclays' fraudulent Libor submissions highlights critical lessons about conflicts of interest, pressures on regulators, and banks that are too big to fail, says CFR's Sebastian Mallaby.
The Trans-Pacific Partnership, a massive multilateral trade agreement now in the works that focuses on the Asia-Pacific region, could add billions of dollars to the U.S. economy and solidify Washington's commitment to the Pacific. But if the Obama administration fails to calm critics of the deal, there is a growing possibility that it could collapse.
Sebastian Mallaby examines the Spanish experience with countercyclical capital buffers to argue that even the most innovative banking regulations will never take taxpayers completely off the hook when banks go bust.
As the global financial sector has swelled, the gap between the rich and the poor has grown. Three new books -- by James Galbraith, Robert Shiller, and Charles Ferguson -- come down differently on how much banks are to blame for inequality and what the government should do about it.
Charles A. Kupchan argues that though it is not too late to save the euro, it is growing too late to save the E.U, as restoring confidence in Europe's integration will prove both more decisive and more elusive.
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 it is essential to begin working now to expand and establish rules and norms governing armed drones, thereby creating standards of behavior that other countries will be more likely to follow.
The author examines Pakistan's complex role in U.S. foreign policy and advocates for a two-pronged approach that works to quarantine threats while integrating Pakistan into the broader U.S. agenda in Asia.
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 »