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…
October 6, 2004
Capital FlowsLast night, Vice President Cheney claimed that US allies were contributing $80 billion to the war in Iraq by providing Iraq with debt relief. He compared this $80 billion in debt relief to the cash …
November 21, 2004
Capital FlowsGetting agreement from the Paris Club creditors to write off 80% (in stages) of the $40 billion or so that Iraq owes them is no doubt a good thing -- not the least because it lets the US (and Iraq) p…
December 19, 2004
The 1985 Plaza accord sought to drive the dollar down; the 1987 Louvre sought to keep the dollar from falling further. There is growing talk of a new Plaza in the US -- though not in the circles tha…
December 26, 2004
Emerging MarketsThe IMF’s typical diagnosis of an emerging economies problem is "its mostly fiscal", or so the wonky saying goes. Larry Rohter of the New York Times makes the argument that Argentina’s post 2001 suc…
January 9, 2005
Financial MarketsAs readers of this blog no doubt know, the dollar rallied v. the euro last week. Not that most of America noticed. In much of America’s heartland, the dollar’s value does not make the financial new…