Reaction to Europe's Latest Efforts to Contain Its Debt Crisis
Working well past midnight European leaders agreed to the broad outlines of a plan to deal with the European financial crisis. Private investors will be forced to take losses of up to 50 percent on Greek bonds, and bailout funds will be quadrupled. Investors are, so far, supportive. German Chancellor Angela Merkel said the crisis presents an opportunity to correct flaws made when Europe's economic and monetary union was originally built. Most agree implementing last night's plan remains a formidable challenge. Join us for an update on the European debt crisis and its implications for the U.S. and world economy.
senior international counsel, WilmerHale, former deputy secretary, U.S. Department of Treasury, and U.S. Ambassador to Germany, 1991-1993.
co-director of the Center for Economic and Policy Research.
economics reporter, The Wall Street Journal.