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1. Can Europe's Divided House Stand?

Author:
Hugo Nixon
Publication Date:
11-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
Conventional wisdom has it that the eurozone cannot have a monetary union without also having a fiscal union. Euro-enthusiasts see the single currency as the first steppingstone toward a broader economic union, which is their dream. Euroskeptics do, too, but they see that endgame as hell -- and would prefer the single currency to be dismantled. The euro crisis has, for many observers, validated these notions. Both camps argue that the eurozone countries' lopsided efforts to construct a monetary union without a fiscal counterpart explain why the union has become such a mess. Many of the enthusiasts say that the way forward is for the 17 eurozone countries to issue euro bonds, which they would all guarantee (one of several variations on the fiscal-union theme). Even the German government, which is reluctant to bail out economies weaker than its own, thinks that some sort of pooling of budgets may be needed once the current debt problems have been solved. A fiscal union would not come anytime soon, and certainly not soon enough to solve the current crisis. It would require a new treaty, and that would require unanimous approval. It is difficult to imagine how such an agreement could be reached quickly given the fierce opposition from politicians and the public in the eurozone's relatively healthy economies (led by Finland, Germany, and the Netherlands) to repeated bailouts of their weaker brethren (Greece, Ireland, Italy, Portugal, and Spain). Moreover, once the crisis is solved, the enthusiasm for a fiscal union may wane. Even if Germany is still prepared to pool some budgetary functions, it will insist on imposing strict discipline on what other countries can spend and borrow. The weaker countries, meanwhile, may not wish to submit to a Teutonic straitjacket once the immediate fear of going bust has passed.
Topic:
Economics and Government
Political Geography:
Europe, Finland, Greece, Germany, Spain, Italy, Netherlands, Portugal, and Ireland

2. Staying Power: The U.S. Mission in Afghanistan beyond 2011

Author:
Michael O'Hanlon
Publication Date:
09-2010
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
Nine years ago, the United States worked with Afghanistan's Northern Alliance to overthrow the Taliban government in Kabul. The world was united, the cause for war was clear, and U.S. President George W. Bush enjoyed the support of roughly 90 percent of Americans. That was a long time ago. Today, the war in Afghanistan is a controversial conflict: fewer than half of Americans support the ongoing effort, even as roughly 100,000 U.S. troops are in harm's way. Troops from more than 40 countries still make up the International Security Assistance Force (ISAF), but fewer than ten of those countries take substantial risks with their forces in the turbulent south and east of the country. And as the Netherlands prepares to depart Afghanistan this year and Canada remains committed to doing so in 2011, two of these coalition partners will likely soon be gone. Meanwhile, support for the coalition among Afghans has declined to less than 50 percent from highs of 80-90 percent early in the decade. Over the years, the U.S. mission has lost much of its clarity of purpose. Although voters and policymakers in the United States and elsewhere remain dedicated to denying al Qaeda safe haven in Afghanistan, they have begun debating whether a Taliban takeover would necessarily mean al Qaeda's return; whether al Qaeda really still seeks an Afghan sanctuary, as it did a decade ago; and whether U.S. forces could contain any future al Qaeda presence through the kinds of drone strikes now commonly employed in Pakistan. The most pressing question is whether the current strategy can work -- in particular, whether a NATO-led military presence of nearly 150,000 troops is consistent with Afghan mores and whether the government of President Hamid Karzai is up to the challenge of governing and keeping order in such a diverse, fractious land.
Topic:
Security
Political Geography:
Afghanistan, United States, America, Taliban, Netherlands, and Kabul