Prospects for the Eurozone

Source: Getty
TV/Radio Broadcast BBC World News
As concerns rise over a potential exit by Greece and a possible bailout for Spain, the eurozone remains in a very difficult predicament, with few good options for moving forward.
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Speaking on BBC News, Carnegie's Uri Dadush noted both the importance of the eurozone to the global economy and the acute position its member countries find themselves in, as the euro debt crisis wears on. The eurozone is the largest trading bloc in the world—larger, as a single entity, than the United States. It could potentially withstand the departure of smaller economies, including Ireland, Portugal, and Greece (which financial markets have, to a large extent, written off already). But it would likely not remain intact if the fiscal and financial situation in Italy and Spain, among the five largest economies in the eurozone, deteriorated significantly. Dadush argued that troubled periphery countries in the eurozone have little choice but to muddle through austerity in the short and medium-term, as markets will not lend to them otherwise. The eurozone core, including Germany, and the European Central Bank, however, could do more—for example, accept somewhat higher inflation—to support the periphery’s transition.

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In Fact



of Brazilian protesters

learned about a massive rally via Facebook or Twitter.


million cases pending

in India’s judicial system.

1 in 3


now needs urgent assistance.


political parties

contested India’s last national elections.


of Egypt's labor force

works in the private sector.


years ago

Carnegie began an internship program. Notable alumni include Samantha Power.


of oil consumed in the United States

is for the transportation sector.


of Chechnya’s pre-1994 population

has fled to different parts of the world.


of oil consumed in China

was from foreign sources in 2012.


of Syria’s population

is expected to be displaced by the end of 2013.


million people killed

in Cold War conflicts.


of the U.S. economy

is consumed by healthcare.


billion in goods and services

traded between the United States and China in 2012.


billion in foreign investment and oil revenue

have been lost by Iran because of its nuclear program.


increase in China’s GDP per capita

between 1972 and today.


billion have been spent

to complete the Bushehr nuclear reactor in Iran.


of Iran’s electricity needs

is all the Bushehr nuclear reactor provides.


new airports

are set to be built in China by 2015.



were imprisoned in Turkey as of August 2012 according to the OSCE.


of the world's population

will reside in cities by 2050.


million Russian citizens

are considered “ethnic Muslims.”

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