Europe

Op-Ed

How to Reform Ukraine's Economy

Authors: Heidi Crebo-Rediker and Douglas A. Rediker
Fortune.com

Heidi Crebo-Rediker and Douglas A. Rediker examine the role of the European Bank for Reconstruction and Development (EBRD) in Ukraine, arguing that the EBRD should shift its resources away from Russia and, in accordance with its mandate, support Ukraine's transition toward democracy and market-oriented economics.

See more in Ukraine; Economics

Audio

Media Call with Benn Steil on European Central Bank Meeting

Ahead of the April 3, 2014, meeting of the European Central Bank (ECB)'s rate-setting Governing Council, CFR Director of International Economics Benn Steil discussed why the expected shift toward more aggressive monetary stimulus will fail to revive private-sector credit without a more compelling bank recapitalization plan.

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Transcript

Foreign Affairs Media Call With Ivo H. Daalder and James. G. Stavridis

Speakers: Justin Vogt, Ivo H. Daalder, and Adm. James Stavridis

Foreign policy experts, Justin Vogt, deputy editor of Foreign Affairs, Ivo Daalder, president of the Chicago Council on Global Affairs, and Admiral James Stavridis, dean of Tuft University's Fletcher School discuss military defense and NATOs role in the present and future territorial and political situation of Ukraine-Russia regarding the territory of Crimea.

See more in Ukraine; Politics and Strategy

Op-Ed

What Europe Can Learn From the U.S. Bank Crisis

Authors: Benn Steil and Dinah Walker
Wall Street Journal

Benn Steil's latest op-ed in the Wall Street Journal, co-authored with Dinah Walker, explains why the ECB's anticipated foray into more aggressive monetary stimulus next week won't have any significant effect on the availability and cost of private-sector credit. The ECB believes that its ongoing bank stress tests will help revive the eurozone's moribund banking industry, but they argue that the tests are counterproductive without a mechanism in place to assure sufficient recapitalization of banks that fall short—as there was in the United States in 2009.

See more in Europe; Banks and Banking

Primary Sources

President Obama's Remarks on Europe

President Barack Obama spoke at the Palais Des Beaux Arts in Brussels on March 26, 2014. He spoke about the history of formation of democracies in Europe and the importance of maintaining European regional security and the sovereignty of individual countries. President Obama argued for the United States and other countries to support Ukraine and to isolate the Russian government after Russia's annexation of Crimea.

See more in Europe; Russian Federation; Democratization; International Law

Primary Sources

The Hague Declaration

Leaders from Canada, France, Germany, Italy, Japan, the United Kingdom, the United States, the President of the European Council, and the President of the European Commission met in The Hague and released this statement on March 24, 2014. In the joint document, the leaders declares their support for Ukraine's sovereignty and their rejection of Russia's annexation of Crimea. The document states that the leaders will not attend the G8 meeting in Sochi in June 2014, but will convene as the G7 in Brussels.

See more in Ukraine; Russian Federation; International Organizations and Alliances; Territorial Disputes