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The magazine of international economic policy.

FEATURED IN THE CURRENT ISSUE

How Dangerous Is Vladimir Putin?

Is Putin is merely a delirious fool or a serious threat to the West?

Featuring the assessments of noted observers Steven Pifer, Joseph S. Nye, Jr., Matthew Rojansky, Frank J. Cilluffo, Robert Dannenberg, Mohamed A. El-Erian, James K. Galbraith, Harold James, Dalibor Rohac, K. Philippa Malmgren, Norman A. Bailey, Bernard Connolly, Patrick M. Cronin, Adam Garfinkle, Carla A. Hills, George R. Hoguet, Anne O. Krueger, Robert A. Manning, Jim O'Neill, William H. Overholt, Dimitri K. Simes, Charles Wolf, Jr., Desmond Lachman, Gary N. Kleiman, Dan Mahaffee, Ilan I. Berman, Daniel Twining, James Jay Carafano, W. Bowman Cutter, S. Frederick Starr, and J. Robinson West.

A symposium of views

Europe’s Crisis Point

Without changes, monetary union will inevitably collapse and the euro disappear.

By Thomas Mayer

How to Revive the Euro Economy

Begin with a one-time devaluation of the weaker economies followed by structural reforms.

By Allan H. Meltzer

The Sadness of Karl Otto Pöhl's Legacy

“We now have the ECB française.

By Klaus C. Engelen

Europe’s Keynesian Dream

A neo-classical recipe for a neo-classical problem.

By Hans-Werner Sinn

No Cheers for the Bundesbank

German policies are hurting…Germans.

By Melvyn Krauss

The Rise of Petro Exuberance

How oil today is in straits similar to those of the late-1970s U.S. economy.

By Philip K. Verleger, Jr.

Oil Bonanza

Good news for the world.

By Charles Wolf, Jr.

Accidental Currency War

The new race to the bottom.

By Mohamed El-Erian

“Lehman Brothers Squared”

What’s at stake with Greece.

By John M. Berry

Europe’s Risky Moment

The ugly consequences of a Greek exit.

By Desmond Lachman

Emerging Market Dilemma

The paradox of global capital flows.

By Kevin P. Gallagher

Off the News

Bundesbank brain drain, who loses with cheap oil, and China’s silent debt explosion.

Remembering Karl Otto Pöhl

Michael J. Boskin, Carlo Azeglio Ciampi, Jacques de Larosière, Gerd Häusler, Otmar Issing, Manuel H. Johnson, David Marsh, Rüdiger von Rosen, and David M. Smick recall the late Bundesbank president.