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.
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The emerging BRICS economies agree that the West should hold less sway in the global economy. But their leaders, despite regular summits, have failed to articulate a coherent vision because of divergent interests, says journalist Martin Wolf.
Alongside the 2012 BRICS Summit in Delhi, this special publication is a collection of articles that addresses important issues of the global agenda, the priorities of BRICS, the policies and competitive advantages of the participants, as well as BRICS institutionalization.
IBSA’s abstention over Syria is an argument against Security Council reform. Critics of reform have long argued that increasing the number of permanent members to include Brazil and India would lead to paralysis.
As Indonesia hosts a number of high-level summits this year, it looks set to take its place among the world’s economic superstars. But celebrations are premature: although Indonesia has made great strides, its gains are reversible. To continue to prosper, Jakarta must address rampant corruption and poor governance
The earthquake and tsunami - not to forget the nuclear disaster - in Japan, along with the escalating Arab Spring has trigged a series of geoeconomic events. What, thus, is the bigger picture that emerges?
The world’s leading international institutions may be outmoded, but Brazil, China, India, and South Africa are not ready to join the helm. Their shaky commitment to democracy, human rights, nuclear nonproliferation, and environmental protection would only weaken the international system’s core values.
Turkey’s reorientation offers opportunities for better ties with India
Mr Cameron’s austerity measures may provide a mutually beneficial opportunity to both India and UK.