A “Bold and Decisive” Plan for Europe
For the last 150 years the United States has protected its own security and that of its allies by promoting international capital markets and a globalized economy.
America’s relations with its European partners have played a significant role in US economic growth, stability and security.
Recently these close ties with the European Union have exposed the US economy to the systemic risks of the Eurozone, which is experiencing an unprecedented debt crisis. Current policy responses – like ongoing bailouts and regulatory reform- are insufficient to jumpstart Europe’s weak economies and address its structural deficiencies.
This Perspective Paper, by ASP Adjuct Fellow Peter Charles Choharis, argues that the United States should promote two new institutional frameworks–permitting countries to exit the Eurozone and declare sovereign bankruptcy–that will allow European countries to achieve final resolution of their debt exposure and undertake the structural reforms necessary for economic growth.
You can download the report here, or read it below.
A “Bold and Decisive” Plan for Europe
