EA February 2015

Perspectives: No Blank ECB Check for Greece

alexanderpriviteraThe new Greek political leadership is learning how painful it is to transition from a populist political campaign platform to the actual job of governing a country in the euro area. Only days after promising voters a clean break with the recent past, the illusion that Greece could regain full sovereignty within the monetary union is already being replaced by a well-known pattern of jockeying for a better negotiating position. For the moment, Alexis Tsipras, the new prime minister, does not appear to have a coherent plan.


What Next in Ukraine?

johnbarryThe New Year saw three small gatherings.  One in Washington, one in London, one in the capital of a small east European nation formerly under Soviet rule.   All were discreet, unpublicized, invitation-only.   Only the largest had a formal name.  The Washington meeting was labeled SW21: acronym for ‘Strategic Weapons in the 21st Century.’   Since 2008, that’s been a quiet get-together where high-level government officials, academics and nuclear weapons experts meet annually to discuss the role of nuclear weapons in a post-Cold War world.

Syriza Challenges the Euro-Austerians

paul horneGreece’s new government insists on drastic easing of the draconian conditions imposed by the “Troika’s” €240 bn bailouts in 2010 and 2012 [1], plus restructuring of Greece’s €320+ bn international debt burden.  This forces Euro political leaders to  face up to the urgent need for overdue institutional and structural reforms to ensure that the euro, at age 16, remains viable as a reserve currency.