Council of Councils
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Introduction
Over the last several decades, governments have collectively pledged to slow global warming. But despite intensified diplomacy, the world is already facing the consequences of climate…
Can the EU Summit Stem the Crisis?
December 8, 2011 11:41 am (EST)
- Explainer Video
The EU summit’s potential for stemming the eurozone debt crisis hinges on Germany, says CFR’s Sebastian Mallaby. "The central question in the European summit is whether there can be enough rule building to satisfy Germany, in order to liberate enough money to stabilize the weaker economies," Mallaby says. For the European Central Bank to intervene more forcefully in the markets, Mallaby says, what is needed is "some kind of compact that pushes the system towards more rules against excess borrowing by governments in the future to satisfy the German voters that they’re not sending money down a bottomless pit."
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