Eurozone debt concerns have led to soaring lending rates, which in turn helped roil markets concerned about the EU's ability to overcome its crisis.
Richard N. Haass says, "Even before it began, Europe's moment as a major world power in the twenty-first century looks to be over."
Saving the European Union requires a plan to allow fiscally weak member countries to fail, as well as painful lifestyle changes and some loss of national sovereignty, says the Centre for European Policy Studies' Daniel Gros.
Debt restructuring and longer-term eurozone reforms will be needed to contain Europe's sovereign debt problems and restore European stability and prosperity, says CFR's Marc Levinson.
The nearly $1 trillion EU bailout plan appears to have achieved immediate aims of restoring confidence in markets, but concerns persist about deeper reforms needed to tackle the region's sovereign debt crisis.
The Greek crisis puts the currency's very survival at risk. Europe must now take long overdue action, says Joseph Stiglitz.
Sebastian Mallaby says that the eurozone's twin temptations--to borrow too much, to raise wages too much--always threatened the cohesion of the currency union. If Greece is rescued from its follies, these temptations will become stronger.
As the United States and Europe face common threats around the globe, the time has come to break down the bureaucratic barrier between the European Union and NATO. Today's challenges require the hard power of NATO and the soft power of the EU.
President Obama's decision to skip an upcoming summit in Spain set off a European reaction that highlighted areas of conflicting interests between the EU and the U.S., says CFR Europe expert Charles Kupchan.
According to Desmond Lachman of the American Enterprise Institute, Greece is approaching the final stages of its currency arrangement. There is every prospect that within two to three years, after much official money is thrown its way, Greece's euro membership will end with a bang.
The European Union released this paper describing its strategy towards China and why Europe has an interest in China's development. A midterm review of the strategy was released in 2010.
We should not underestimate the importance of the European Union's committment to give about $10 Billion over three years in climate assistance to developing nations, writes Michael Levi.
Listen to Philip H. Gordon, assistant secretary of state for European and Eurasian affairs, shed light on the status and future of the U.S.-European relationship under a new president's leadership, as well as the role of the transatlantic partnership in addressing international security challenges.
The Agreement on Port State Measures to Prevent, Deter, and Eliminate Illegal, Unreported, and Unregulated Fishing was signed on November 22, 2009.
Timothy Garton Ash examines global politics twenty years since 1989 and questions whether today's Europe, ""mired in the narcissism of minor difference," can recapture the strategic boldness and historical imagination of 1989.
With Ireland passing the Lisbon treaty, Gideon Rachman contends that the European Union is staking a claim to be taken seriously as a global superpower, particularly with the Group of 20 where Europeans hold eight seats at the conference.
Watch European Commission President José Manuel Barroso speak about the economic, moral, and environmental effects of climate change and the steps the European Union is taking to address this challenge.
The European Economic Commmunity Treaty, also known as the Treaty of Rome, was signed on March 25, 1957.
Listen to experts discuss how the Euro has impacted the economies of member countries during the last ten years, and the complexities of navigating monetary policy amongst differing national interests.
This session was part of the 2009 International Affairs Fellows Conference.
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.
The authors assess the political, security, and economic challenges facing U.S. policymakers in Afghanistan and evaluate a range of policy options.
Maximalist finds lessons in the past that anticipate and clarify our chaotic present, revealing the history of U.S. foreign policy in an unexpected new light. More
This clear and authoritative book presents a sweeping account of China's global resource quest and the unrivaled expansion of its economy. More
The story of the tragic and often tormented relationship between the United States and Pakistan, and a call to prepare for the worst, aim for the best, and avoid past mistakes. More
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 »