International Finance

Op-Ed

Don't Blame the Euro for Greece's Woes

Author: Benn Steil
Financial News

Benn Steil's April column in Dow Jones' Financial News argues that blaming the euro for Greece's woes is misguided.  Greece has been in constant trouble with foreign creditors since its independence in 1832, even under the reign of the "sovereign" drachma.  Since Greece's debt was predominantly euro-denominated even before it joined the eurozone, staying outside it would only have brought the crisis to a head earlier - as with Iceland.

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Audio

Financial System Stability

Speaker: Mohamed El-Erian

Mohamed El-Erian discusses how the crisis on Wall street will affect the global financial system, whether we can expect financial stability in the near future, and if there are any policy measures that can be taken to insulate the consumer from this crisis.

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Op-Ed

Central Banks Enter Age of Improvisation

Author: Benn Steil
Financial News

Benn Steil's January column in Dow Jones' Financial News argues that the monetary forces behind the crashes of 1929 and 2008 were very similar.  In the 1920s, as in the mid-2000s, Fed officials mistakenly thought that they had found, in the practice of trying to stabilize a price index, the holy grail of monetary policy. In consequence, central bankers are once again grasping for a new orthodoxy.

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Transcript

Too Big to Get Wrong: Getting Financial Regulatory Reform Right

Speaker: Robert E. Diamond
Presider: Maria Bartiromo

This meeting is part of the CEO Speaker Series. This series provides a forum for leading global CEOs to share their priorities and insights before a high-level audience of CFR members. The series aims to educate the CFR membership on the private sector's important role in the policy debate by engaging the global business community's top leadership. Members benefit from hearing CEOs' perspectives as well as interacting with them in an informal setting; in turn, CEOs have the opportunity to highlight the work of their organization and strengthen their relationship with CFR.

See more in Global; Financial Regulation; International Finance