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London Review of Books: Vanity and Venality

Author: Susan Watkins

"All quiet on the euro front? Seen from Berlin, it looks as though the continent is now under control, after the macro-financial warfare of the last three years. Seen from the besieged parliaments of Athens and Madrid, from the shuttered shops and boarded-up homes in Lisbon and Dublin, the single currency has turned into a monetary choke-lead, forcing a swathe of economies into perpetual recession."

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Ask CFR Experts

Is IMF policy to blame for the prolonged eurozone economic crisis?

Asked by Maxwell Fenton, from Dowling Catholic High School

The International Monetary Fund (IMF) is, with the European Commission and the European Central Bank, part of the so-called troika responsible for setting the conditions that the Greek government must meet to secure continued official financial support. Greece is the eurozone's largest IMF program beneficiary, with about €28 billion in outstanding loans from the IMF.

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McKinsey: The Future of European Defence: Tackling the Productivity Challenge

"Europe is under pressure, both internally and from its allies, to take more responsibility for defence and security, especially in its immediate neighbourhood. The post-Cold War history of European deployments in Europe and joint NATO missions provide abundant evidence of such demands. Currently, US defence spending represents 72 percent of the NATO total – up from 63 percent in 2001."

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Financial Times: Eurozone Calm Belies Brewing Political Storm

Author: Peter Spiegel

"Ever since its start, the existential threat to the single currency has mainly come from two separate but related scenarios: a massive bank run by depositors convinced their euros were about to be turned back into drachmas, escudos or pesetas; or Italy losing access to the bond market, making it unable to refinance its massive €2tn debt pile."

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