Some of the most punishing ways in which Reinhart and Rogoff’s work has figured into economic policy has gone completely unnoticed.
Cornel Ban, an assistant professor of international relations at Boston University, previously was director of development studies at the Watson Institute for International Studies at Brown University. He is completing a book on the political economy of crises.
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The award of the Nobel Peace Prize to the European Union should be a further incentive to ensure the euro’s long-term future. Otherwise, the crisis threatens to undermine the very achievement the EU was recognized for.