Europe

Testimony

Greece's Euro Future and U.S. Policy

Author: Robert Kahn

In his testimony before the Senate Committee on Foreign Relations' Subcommittee on Europe and Regional Security Cooperation, Robert Kahn argues that although Greece's direct trade and financial links to the U.S. economy are small and there is less of a direct systemic threat to the United States than when the crisis began in 2009, the risks are still material.

See more in Greece; Eurozone; Financial Crises

Event

Media Call: Greek Bailout Agreement

Council on Foreign Relations Senior Fellow Robert Kahn breaks down the deal and explains what it means for the future of Greece and the European Union. Greece reached an agreement with European creditors that would impose harsh austerity measures in return for a financial bailout.

See more in Greece; Budget, Debt, and Deficits

Primary Sources

Euro Summit on Greece Statement

Leaders of euro member states held a special Euro Summit on Greece. On July 12, 2015, the leaders "agreed in principle that they are ready to start negotiations on an ESM [European Stability Mechanism] financial assistance programme for Greece."

See more in EU; Greece; Eurozone

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

Leading From Between: How California and Germany Can Fix the Climate Agenda

Authors: Varun Sivaram and David Livingston

Climate talks have largely failed to curb rising temperatures, but bottom-up initiatives featuring subnational actors hold great promise if coordinated effectively. Varun Sivaram and David Livingston argue that California and Germany can “lead from between” to bridge international and subnational climate action.

See more in United States; Germany; Environmental Policy

Foreign Affairs Article

Europe's Shattered Dream of Order

Authors: Ivan Krastev and Mark Leonard

Until recently, most Europeans believed that their post–Cold War security order held universal appeal and could be a model for the rest of the world. This conviction was hardly surprising, since Europe has often played a central role in global affairs. For much of the last three centuries, European order was world order—a product of the interests, ambitions, and rivalries of the continent’s empires.

See more in Europe; Wars and Warfare

Foreign Affairs Article

From Calvin to the Caliphate

Author: John M. Owen, IV

Nearly a century after it first emerged in Egypt, political Islam is redefining the Muslim world. Also called Islamism, this potent ideology holds that the billion-strong global Muslim community would be free and great if only it were pious—that is, if Muslims lived under state-enforced Islamic law, or sharia, as they have done for most of Islamic history.

See more in Middle East and North Africa; Europe; Religion

Event

Media Call: Mallaby and Kahn on Greece and the Eurozone

Eurozone finance ministers meet in Luxembourg to negotiate a deal between Greece and its creditors before its International Monetary Fund debt repayment deadline at the end of June. Greece's membership in the eurozone hangs in the balance. CFR senior fellows Robert Kahn and Sebastian Mallaby will discuss the options the finance ministers might consider and their potential ramifications.

See more in Greece; Economics

Op-Ed

Turkey Comes Undone

Author: Steven A. Cook
The American Interest

Expectations of democracy in Turkey following the recent general elections are premature, writes CFR’s Steven Cook. Instead, political paralysis and instability will mark the upcoming phase as parties scramble to build a coalition government.

See more in Turkey; Elections