February 13, 2012 -As violence erupted in Greece, I guest-hosted CNBC’s Worldwide Exchange talking about economic policy challenges. Watch the video by clicking on the image below:
I’ve been arguing that Europe needs an orderly debt restructuring for Greece to avoid much worse consequences. There’s video below of my guest host appearance on CNBC’s Worldwide Exchange with Nicole Lapin May 23, 2011, discussing the challenges facing Europe as it struggles with Greece’s debt crisis.
A CNBC follow-up article, “Will Eurobonding Save the Day?” further discussed a proposal which I support -originally made by the Brussels-based think tank Bruegel- to pool European debt into a more liquid Euro-bond. Actually, it would involve two kinds of Euro-bonds: senior “Blue bonds” representing debt under 60% of each nation’s GDP, and junior “Red bonds,” for higher amounts, which would trade at much higher yields reflecting the increased risk. The Bretton Woods Project also has cited my argument for an orderly pre-emptive default in a June 13 article, “IMF’s European Austerity Drive Goes On Despite Failures and Protests“
Today’s debt crises among European sovereigns and US underwater mortgage holders both have much in common with a similar chronicle of debt foretold in Argentina a decade ago: the answer that involves the least amount of pain is a swift restructuring. In “Chronicle of a Debt Foretold,” a new paper for the World Economic Roundtable, organized jointly by the World Policy Institute and the Economic Growth Program of the New America Foundation, I argue that the answer is similar to the stitch in time that was proposed for Argentina, on which policy makers failed to act, modeled on the Brady Plan debt restructurings that resolved the 1980s sovereign debt crisis. We need a new Brady Plan for both the troubled European sovereign debtors, and for US underwater mortgages, before we lose another decade, as we did in the 1980s.
The American Council on Germany, the German Marshall Fund of the United States, the World Policy Institute and Demos present
“U.S. and European Perspectives on Immigration: A Problem or an Opportunity?”
a discussion and luncheon featuring
Delancey Gustin, Immigration and Integration Program, The German Marshall Fund of the United States
Michele Wucker, Executive Director, World Policy Institute
This event comes on the heels of the release of Transatlantic Trends: Immigration, which compares transatlantic as well as cross-country opinion on immigration and integration issues. Some of the topics included in this year’s survey are: public perception of immigrants’ labor market impacts and effects on wages, the effect of the economic crisis on attitudes toward immigration, and preferences for temporary vs. permanent labor migration programs. The survey also gauges opinion on a legalization program for illegal immigrants and asks respondents to rate their governments’ current job of immigration management.
Wednesday, January 27
12:15 – 2 PM
220 Fifth Avenue (between 26th and 27th streets)
Fifth Floor conference room
New York, New York
RSVP: This lunch and event are free and open to the public, but advance registration is required to reserve a seat and help us minimize waste when ordering. RSVP by e-mailing email@example.com or calling 212.481.5005 option 2.