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Without a huge increase in German spending, there is no way to eliminate years of unemployment, in which case Madrid must quickly decide whether the pain will be paid by German households or by Spanish households.
If Spain wants to continue along its current path, it must be prepared to suffer another five to ten years of extraordinarily high unemployment, an erosion of the productive capabilities of its economy, and rising political chaos.
Europeans are so concerned with the crises in peripheral economies that it will come as a surprise that we may be at the beginning of a developing crisis in China.
For its achievements in making the continent more boring after 1989, the European Union deserves the Nobel Peace Prize.
The last thing that Europe needs is an ill-educated younger generation. But that is precisely what it’s going to get as long as countries across Europe continue to cut back on teaching.
As the euro crisis continues to unfold, the economic as well as political difficulties associated with producing large and indispensable gains are becoming ever more visible.
In the run-up to Germany's 2013 federal election, the country will become even more inward looking, making it more difficult for Europe to revamp its foreign and security policy.
In an interview with Carnegie Europe, and four leading European newspapers, German foreign minister Guido Westerwelle set out his views about the euro, the impact on Europe’s security and defense policy, and the Middle East.
There is a growing consensus that a political union will be the critical condition determining whether Europeans matter together, or falter separately in the world.
European leaders must develop the will to truly tackle the euro crisis by rising above short-term considerations of political survival and public opinion polls.
China, with its enormous population of over a billion people, is going through extraordinary social, economic, and political upheaval.
Right now, the euro looks more likely to survive than it has for a number of months. Yet the price to pay may be the return of inflation to Germany, and to the rest of Europe.
I recently wrote a blog post about Greece’s armed forces and there was a very big response. The comments were fascinating. They fell into several camps.
Every week leading experts answer a new question from Judy Dempsey on the international challenges shaping Europe’s role in the world.
Just as there is no big bazooka for the financial crisis, there will be no big bang to mark the genesis of real European political integration.
The EU should use Greece's financial crisis to push ahead with pooling and sharing resources. But it won't.
The EU must increase its political and economic involvement in Moldova in order to weaken Russia's influence.
If given the chance, Germans would vote against giving more powers to Brussels. Then what would happen to Europe?
The Greeks themselves have squandered public funds, says a former deputy prime minister and now leading anti-corruption campaigner.
Those of us who argue for more Europe and who believe that it is possible should stop relying on the intellectual laziness of the sheer necessity argument.
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