December 31, 2010 View this newsletter as a web page on CFR's website. Ireland Bailout This Geo-Graphics post shows that the €35 billion tagged for recapitalizing banks in the Irish bailout plan is inadequate. Any bailout plan, to be credible enough for the markets, must ensure that the Irish government ceases adding bank debt to its public debt. That will almost surely involve a restructuring of the bank debt, which in turn would raise questions about the health of other European banks that may be exposed to Ireland. Analysis: Aftershocks of the Ireland Bailout U.S.-South Korea The new U.S.-Korea Free Trade Agreement has the potential to measurably spur the economy and reassure a top U.S. ally, but President Obama needs to take firmer steps to boost a flagging trade agenda, write CFR's Edward Alden and Scott Snyder. Video, Transcript: 11/17 "Trade Tensions: Challenges and Opportunities After the Midterm Elections" with Charlene Barshefsky, Jagdish N. Bhagwati, and Douglas A. Irwin Financial Reform Sebastian Mallaby says that the Federal Reserve's recent data dump is a reminder that, two years ago, too-big-to-fail financial institutions drove the world to the brink of a 1930s-style disaster. If regulators don't break them up or otherwise restrain them, they may do worse next time. Sebastian Mallaby and Matthew Klein write that policymakers should be embracing small-enough-to-fail hedge funds as a partial alternative to too-big-to-fail banks. India Jagdish Bhagwati argues that the growth that followed India's liberal economic reforms in the early 1990s pulled as many as 200 million people out of poverty. Critics who reject India's economic "miracle" stand in the way of a much-needed new wave of reforms. Evan A. Feigenbaum discusses the growing commercial ties between the United States and India.

CGS Website For the latest from the Maurice R. Greenberg Center for Geoeconomic Studies, visit the CGS webpage at www.cfr.org/cgs.     Must Reads Amity Shlaes argues that the payroll tax cut for 2011 jeopardizes U.S. growth in the long run. Distinguished Visiting Fellow Peter Orszag discusses ways to reform the disability insurance program. The UN climate meeting in Cancun took modest but important steps forward on a wide range of challenges, writes Michael A. Levi.     Meetings Video, Transcript: 12/8 "World Economic Update" with James D. Grant, Richard C. Koo, and Ronald Temple Video, Transcript: 12/1 "World Energy Outlook" with Fatih Birol Video, Transcript: 11/30 "Regaining U.S. Economic Growth and Global Leadership" with J. W. Marriott Jr.     Publications Chart Book: The Economic Downturn in Historical Context Working Paper: Energy Innovation     News from CFR.org Analysis: Taxes and the Debt-Growth Tradeoff Interview: Belt-Tightening for U.S. Foreign Policy Analysis: Uncertain Course on Debt Reduction

			About the CGS
			The Maurice R. Greenberg Center for Geoeconomic Studies (CGS) works to promote a better understanding among policymakers, scholars, journalists, and the public about how economic and political forces interact to influence world affairs. Sebastian Mallaby, Director of the Maurice R. Greenberg Center for Geoeconomic Studies Edward Alden, Bernard L. Schwartz Senior Fellow Caroline Atkinson, Adjunct Senior Fellow for International Economics Jagdish N. Bhagwati, Senior Fellow for International Economics James P. Dougherty, Adjunct Senior Fellow for Business and Foreign Policy Steven Dunaway, Adjunct Senior Fellow for International Economics Michael Hodin, Adjunct Senior Fellow Michael A. Levi, David M. Rubenstein Senior Fellow for Energy and the Environment Peter R. Orszag, Distinguished Visiting Fellow Amity Shlaes, Senior Fellow for Economic History Matthew J. Slaughter, Adjunct Senior Fellow for Business and Globalization Benn Steil, Director of International Economics Francis E. Warnock, Adjunct Senior Fellow for International Finance

EXPLORE CFR'S WEBSITE

Regions

Issues

Experts

Publications

About CFR

Find CFR on Twitter and Facebook.

		Was this message forwarded from a friend? To subscribe, please visit http://www.cfr.org/about/newsletters.html and select "This Month in Geoeconomics." Privacy Policy The Council on Foreign Relations does not share email addresses with third parties. Council on Foreign Relations 58 East 68th Street New York, NY 10065 Tel. +1 212.434.9400 Fax: +1 212.434.9800