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  • Publication Date: 01-2009
  • Content Type: Journal Article
  • Journal: European Affairs
  • Institution: The European Institute
  • Abstract: Beneath the mantra about a coordinated global response to the economic crisis, a line of fracture starkly divides the two sides of the Atlantic about what to do in practice to revive the sinking economies. In Washington, the Obama administration is accepting an unprecedented amount of government debt in order to pump money into the hands of consumers who can spend it and revive business. An Obama aide says that Canada, France, Germany and are not matching the U.S. effort with stimulus spending of their own and should do more. No, answer Ms. Merkel and Mr. Sarkozy - firmly but politely, so far - this is the wrong approach, the wrong priority. The global financial rules need to be overhauled before more money is pumped into it, they say, because the real problem is the lack of confidence in a recent U.S. model of capitalism that has collapsed. And, they say privately, America is to blame for the problem, so America should pay to fix it.
  • Topic: Economics
  • Political Geography: America, Washington, Canada, France, Germany
  • Author: Douglas Rediker
  • Publication Date: 01-2009
  • Content Type: Journal Article
  • Journal: European Affairs
  • Institution: The European Institute
  • Abstract: Seeking a global response to the crisis, the U.S. assigns priority to coordinated stimulus. Germany, France and some other European nations emphasize better global financial regulation - perhaps partly to punish Wall Street but also to prevent a recurrence of abuses. Leadership now by Obama is needed on both issues because the world's confidence and trust in U.S.-style capitalism has been shaken.
  • Topic: Security, United Nations
  • Political Geography: United States, Europe, France, Germany
  • Author: Bruno Tertrais
  • Publication Date: 01-2009
  • Content Type: Journal Article
  • Journal: European Affairs
  • Institution: The European Institute
  • Abstract: France's newfound enthusiam for rejoining NATO's military command, announced by President Sarkozy at this author's Paris think tank, underlines an upbeat perspective. A chorus of voices are warning that NATO may fracture over Afghanistan, but history shows the alliance's unexpected resiliance since the end of the cold war - and its continuing capacity to adapt.
  • Topic: NATO, Cold War
  • Political Geography: Afghanistan, France