Can the EU Summit Stem the Crisis?

December 8, 2011

Can the EU Summit Stem the Crisis?
Explainer Video
from Video

More on:

Economic Crises

The EU summit’s potential for stemming the eurozone debt crisis hinges on Germany, says CFR’s Sebastian Mallaby. "The central question in the European summit is whether there can be enough rule building to satisfy Germany, in order to liberate enough money to stabilize the weaker economies," Mallaby says. For the European Central Bank to intervene more forcefully in the markets, Mallaby says, what is needed is "some kind of compact that pushes the system towards more rules against excess borrowing by governments in the future to satisfy the German voters that they’re not sending money down a bottomless pit."

More on:

Economic Crises

Close

Top Stories on CFR

Southeast Asia

Labor and Employment

The United States has long accepted hundreds of thousands of foreign workers each year, but the Trump administration has blocked many of these visas as unemployment among the domestic labor force has skyrocketed amid the coronavirus pandemic.

Middle East and North Africa

New U.S. sanctions under the Caesar Act could compound the economic turmoil threatening to undo the Assad regime.