Council on Foreign Relations Senior Fellow Robert Kahnbreaks 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.
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."
Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn argues that if Greece exits the eurozone, introducing a new currency could occur quickly; getting broader economic policies right is the more difficult challenge facing the country.
Kurds have become critical players amid domestic upheaval and political changes throughout the Middle East. Explore the history of the Kurdish people and why some Kurds may be on the verge of achieving their century-old quest for independence.
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.
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.
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.
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.
Pope Francis released this document on June 18, 2015. The encyclical states that humans have made "irresponsible use" of the Earth, that climate change affects most people living in poverty, and that all must unite to protect the planet.
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.
Five years after the onset of its sovereign debt crisis, Greece once again finds itself on the precipice of default and a departure from the nineteen-member eurozone. This reading list provides expert background and analysis of the crisis.
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.
Steven A. Cook, CFR Hasib J. Sabbagh Senior Fellow for Middle Eastern Studies, breaks down Turkey's general election, in which the governing Justice and Development Party (AKP) lost its parliamentary majority.
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