trade

Europe’s Long-Term Growth Prospects

By Uri Dadush, Bennett Stancil

The Great Recession and subsequent debt crisis have left Europe with a deep and painful legacy. Output remains 7 percent below the pre-crisis trend; public debt levels continue to reach historic highs; banks remain fragile; and the Euro area is severely out of balance. To ensure that today’s downturn does not devolve into long-term slow growth and deflationary trends, European policy makers need to respond with far-reaching structural reforms.

The “Persian Alliance” and Geopolitical Reconfiguration in Central Asia

By Roman Muzalevsky

August 5 marked the fourth occasion in the last four years that the leaders of the Persian-speaking countries of Iran, Tajikistan, and Afghanistan convened, this time in Tehran, to chart the future of their trilateral cooperation. The meeting, dubbed the “Persian summit,” led to a series of agreements in the area of trade, energy, and transport, reaffirming their joint commitment to bolster regional security.