Saturday, July 4, 2015
  1. A Way Out for Greece

    Jeffrey D. Sachs

    A Way Out for Greece

    50

     explains why easing Greece's debt and keeping it within the eurozone is the solution to the crisis.

    Athens Greece Wassilios Aswestopoulos/ZumaPress

    Easing Greece’s debt burden while keeping it within the eurozone is the correct and achievable path out of the country's crisis, and it can be achieved easily through a mutual accord between Germany and Greece. The result would be a win not only for the two countries – but also for the world economy. READ MORE

  2. Why the Greek Bailout Failed

    Kenneth Rogoff

    Why the Greek Bailout Failed

    33

     explains why structural reforms won’t take root if a country’s government doesn’t believe in them.

    Alexi Tsipras Martin Schulz/Flickr

    As the crisis in Greek demonstrates, imposing structural reforms from outside a country is unlikely to succeed without the willingness of a capable government. If a bailout program requires a wholesale change in a country’s economic model, moving swiftly to write down outstanding debts may be the more sensible option. READ MORE

  3. Emerging Markets After the Fed Hikes Rates

    Nouriel Roubini

    Emerging Markets After the Fed Hikes Rates

    3

     believes that most countries are resilient enough to withstand US monetary-policy tightening.

    Fed chair Janet Yellen Yin Bogu/ZumaPress

    The prospect that the US Federal Reserve will start exiting zero policy rates later this year has fueled growing fear of volatility in emerging economies’ currency, bond, and stock markets. But, with a few exceptions lacking systemic importance, widespread distress and crises need not occur. READ MORE

  4. Europe’s Attack on Greek Democracy

    Joseph E. Stiglitz

    Europe’s Attack on Greek Democracy

    115

     explains what is really at stake in this weekend’s referendum.

    lines at greek atms Panayiotis Tzamaros/ZumaPress

    The rising crescendo of bickering and acrimony within Europe might seem to outsiders to be the inevitable result of the bitter endgame playing out between Greece and its creditors. In fact, European leaders are finally beginning to reveal the true nature of the ongoing debt dispute, and the answer is not pleasant. READ MORE

  5. Can China Beat Deflation?

    Yu Yongding

    Can China Beat Deflation?

    1

     recommends a two-pronged approach to managing the risks of a prolonged slowdown.

    deflation dawmatt/Flickr

    After 39 consecutive months of declining producer prices, deflation is becoming a serious concern among Chinese economists and policymakers. Given slowing economic growth and massive corporate debts, China’s authorities should learn from the recent past to avoid a deflationary spiral. READ MORE

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