As governments around the world struggle to balance cutting spending and stimulating their economies, the European Union faces tough decisions on how to support faltering member countries in the eurozone. Brookings experts analyze the complex issues facing the EU and its common currency and the possible ramifications of EU bailout actions on the global economy.
Reuters/Kai Pfaffenbach - Protestors left some barbed wire in front of the euro sign landmark outside the headquarters of the European Central Bank (ECB) before the ECB's monthly news conference in Frankfurt, September 4, 2014.
Revamping Europe’s Tattered Social Contract
September 18, 2014, Kemal Derviş
Kemal Derviş argues that the eurozone now is facing not only a financial crisis, but a stagnation crisis and is need of a new social contract that reflects the realities of twenty-first-century demographics and global markets.
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Douglas J. Elliott
Fellow, Economic Studies, Initiative on Business and Public Policy
Vice President and Director, Global Economy and Development
The Edward M. Bernstein Scholar
Fellow, Foreign Policy, Project on International Order and Strategy
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