Greece and the European Debt Crisis
European leaders are fed up. As world leaders gather for the G-20 economic summit in France, President Sarkozy had hoped the meeting would help boost the euro and showcase his leadership in Europe’s sovereign debt crisis. Then Greece made the surprise announcement it would put its rescue package to a popular vote. Now comes news that Europe may have slipped back into a recession with its highest unemployment levels since the euro was launched in 1999. France and Germany are demanding Greece declare whether it wants to stay with the euro or risk going it alone. The future of the eurozone – with or without Greece – and repercussions for the U.S. economy.
director of the Peterson Institute for International Economics and author of "China's Rise."
resident fellow, American Enterprise Institute.
economics editor, The Wall Street Journal; author "In Fed We Trust"