Subsequent to the global financial crises of 2007, while several countries were still struggling with economic problems, Latvia managed to dramatically decrease its public debt, and its GDP too grew at an impressive pace. How was this success achieved and at what cost to the people of the country?
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The deterioration of growth prospects is at the core of the financial crisis in Europe. Can Europe successfully form a banking and monetary union? Gateway House interviews Nicolas Véron, a French economist, to discuss the repercussions of the financial crisis in Europe and the potential for Indo-EU cooperation.
The growing discontent of the emerging economies with the international financial institutions gave birth to the idea of a ‘BRICS Development Bank’. However, with considerable political and economic differences among the member countries, the idea remains elusive.
Ronendra ‘Ronen’ Sen is a former Indian Ambassador to the U.S., Germany, Mexico and Russia, and the former Indian High Commissioner to the UK. He is the only ambassador to have served in four G8 capitals, including those of three Read more
The G20 Leaders' declaration at the 2012 Summit in Mexico aims to achieve economic stability; better employment and social protection policies; strengthen and reform the international financial architecture; enhancing food security and address commodity price volatility.
Momentous developments are taking place in Europe. In elections in Greece, France and Germany, Europeans expressed dissent against austerity policies adopted by their government to combat the economic crisis in Europe. How will these results affect the future of European policy-making?
As Europe emerges from economic crisis, a larger challenge remains: finally turning the eurozone into an optimal currency area, with economies similar enough to sustain a single monetary policy. Getting there will be difficult and expensive, but the future of European integration hangs in the balance.
The scope for any process on nuclear talks with Iran to founder on distrust, misunderstanding and political in-fighting in both Tehran and Washington remains formidable. Equally disturbing are the wider political realities. Can the upcoming talks in Istanbul launch a process that can, over time, lead to agreement?
European youth unemployment is unacceptably high. Governments are trying to push young people into work, despite weak demand. Europe faces a choice: It can continue to fiddle with small-scale, ineffective labour market policies for young people, or it can invest in their human capital.
Have eurozone policy-makers finally managed to lance the boil? They can certainly point to lower borrowing costs in Italy and Spain as evidence of stabilisation. Many of them argue that this demonstrates the success of the strategy of fiscal austerity and structural reforms.