A sequence of severe shocks has brought inflation back to Europe and America, but unemployment is still at record low levels. Is higher unemployment required to bring inflation down? The challenges are the same for both economies across the Atlantic, the policy tools resemble each other, but...

This paper gives an overview of the causes of the European debt crisis and the consequences for the external relations. It finds that political mishandling has increased uncertainty, which has contributed to a tendency for the euro to become weaker