In this interview by Steve Weisman, I comment on the latest developments in the Eurozone following the chnages of governments in Greece and Italy, and on the monumental challenges leaders need to address.
In this piece published by Emerging Markets, the magazine distributed in major international economic gatherings (in this case the Cannes summit of the G20), I take a critical look at the bank recapitalization plan announced by EU leaders last week and suggest that the Eurozone cannot be sustainable without an explicitly federal framework for banking policy.
This policy contribution was simultaneously published by Bruegel and published by the Peterson Institute. In it, I summarize the European debate on credit rating agencies, the problems they pose and some possible solutions. I warn against the unintended consequences of ill-designed regulation, and suggest that the most important issue in this debate is to improve the quality and scope of issuers' public disclosures about their financial risk factors.