Council on Foreign Relations This Month in Geoeconomics
From the Maurice R. Greenberg Center for Geoeconomic Studies

March 2014

Restoring Financial Stability in the Eurozone: Lessons From the U.S. Financial Crisis

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Tony Gentile / Courtesy of Reuters


The ongoing eurozone bank stress tests are dangerously flawed, argues CFR Director of International Economics Benn Steil in his new Policy Innovation Memorandum. Writing with CFR Analyst Dinah Walker, Steil recommends that eurozone authorities emulate the successful 2009 U.S. stress tests by committing funds in advance for direct recapitalization of unhealthy banks. Otherwise, Steil warns, the test results will lack credibility and could renew fears of bank failures and sovereign defaults. Read the Policy Innovation Memo »


Ukraine Aid and IMF Reform

IMF Reform Would Advance U.S. Interests

On his Macro and Markets blog, CFR Senior Fellow Robert Kahn argues that the situation in Ukraine underscores the need for the U.S. Congress to act on International Monetary Fund (IMF) reform and thereby strengthen the Fund's hand in tackling international economic crises. Read the post »

It's Time for Congress to Show Leadership and Support the IMF

CFR Senior Fellow Heidi Crebo-Rediker writes in a Macro and Markets blog post that passage of IMF reform would also provide the United States with important political benefits by affirming the nation's leadership role in the international economic arena. Read the post »

Obama Administration Does Not Need IMF Reform to Aid Ukraine

Benn Steil and Dinah Walker argue in a Geo-Graphics blog post that the IMF is in a position to assist Ukraine even without the reforms sought by the Obama administration. Read the post »

An Energy Weapon Against Russia?

On his Energy, Security, and Climate blog, CFR Senior Fellow Michael A. Levi gives a reality check to suggestions that the United States could undercut Russia's leverage over Europe by channeling U.S. energy exports to European markets. Read the post »

Investing Internationally

Overshooting in Emerging Markets

CFR Distinguished Visiting Fellow A. Michael Spence argues in his Project Syndicate column that volatility in international capital flows complicates efforts by emerging markets to shift toward more sustainable economic growth. Read the column »

Drop Investor-State Arbitration From Trade Agreements

At a time when global investors are already less interested in the United States, CFR Senior Fellow Edward Alden writes on the Renewing America blog that the nation further undercuts its competitiveness by insisting that other countries provide U.S.-like legal protections to their foreign investors. Read the post »

Booster Shots for Health Care

Drug and Vaccine Safety in Global Health

In a coauthored Bill & Melinda Gates Foundation report, CFR Senior Fellow Thomas J. Bollyky proposes an innovative strategy outlining where, what, and how investments should be made to improve drug and vaccine safety in developing countries. Read the report »

Health-Care Jobs Are Getting Squeezed, Finally

CFR Adjunct Senior Fellow Peter R. Orszag argues in his Bloomberg View column that the deceleration of health-care employment growth bolsters the case for easing restrictions on the range of tasks medical professionals are permitted to perform. Read the column »



About CGS

The Maurice R. Greenberg Center for Geoeconomic Studies (CGS)
works to promote a better understanding among policymakers, scholars, journalists, and the public about how economic and political forces interact to influence world affairs.

Michael A. Levi
Director of the Maurice R. Greenberg Center for Geoeconomic Studies
Edward Alden
Bernard L. Schwartz Senior Fellow
Thomas J. Bollyky
Senior Fellow for Global Health, Economics, and Development
Blake Clayton
Adjunct Fellow for Energy
Heidi Crebo-Rediker
Senior Fellow
James P. Dougherty
Adjunct Senior Fellow for Business and Foreign Policy
Jennifer Harris
Senior Fellow
Miles Kahler
Senior Fellow for Global Governance
Robert Kahn
Steven A. Tananbaum Senior Fellow for International Economics
Sebastian Mallaby
Paul A. Volcker Senior Fellow for International Economics
Meghan L. O’Sullivan
Adjunct Senior Fellow
Peter R. Orszag
Adjunct Senior Fellow
Varun Sivaram
Matthew J. Slaughter
Adjunct Senior Fellow for Business and Globalization
A. Michael Spence
Distinguished Visiting Fellow
Benn Steil
Senior Fellow and Director of International Economics


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