Council of Councils
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Introduction
Over the last several decades, governments have collectively pledged to slow global warming. But despite intensified diplomacy, the world is already facing the consequences of climate…
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February 24, 2014
Europe and Eurasia
Restoring Financial Stability in the Eurozone: Lessons From the U.S. Financial Crisis
The European Stability Mechanism's (ESM) bank recapitalization instrument was designed to break the vicious circle tying financially weak eurozone governments to financially weak banks. It cannot, ho…
February 19, 2014
Yemen
Countering Terrorism: An Institution-Building Approach for Yemen
Benn Steil and Dinah Walker argue that the ECB's bank stress tests will roil rather than calm markets if recapitalization funds are not set aside in advance, as they were in the case of the highly successful U.S. tests in 2009.
