G-20 Shows US-Europe Divide
The European drive -- led by Germany, naturally -- to tighten spending to get their fiscal house in order and the Obama administration's insistence on Keynesian stimulus will make for tense negotiations at the G20 Summit.
Stuart Eizenstadt and Caio Koch-Weser correctly argue that it’s time for “a renaissance of joint economic and political leadership by the U.S. and the EU and its members” at tomorrow’s G20 Summit. As I argue in my New Atlanticist post “Transatlantic Clash at G-20,” we won’t, however, be getting it.
The main clash is over the European drive — led by Germany, naturally — to tighten spending to get their fiscal house in order and the Obama administration’s insistence on Keynesian stimulus.