alexanderpriviteraThe recent publication of a United States (U.S.) Treasury report characterizing Germany as a risk to the world economy because of the huge surplus in its trade balance, highlights how for many U.S. economists the German economic model remains deeply flawed. Indeed, this is not the first time that the U.S. government has pointed a finger at Germany’s massive current account surpluses and branded them a source of dangerous global imbalances.

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spellmanU.S. and European Union officials finished their second round of talks earlier last month in Brussels, largely it seems to demonstrate that a “constructive” process is underway to establish the Transatlantic Trade and Investment Partnership (TTIP). At this early stage, there are few signs of progress in addressing any of the most difficult and complex issues that will determine if the world’s two largest markets form a free trade union.

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On December 2, 2013, The European Institute awarded The Honorable José Ángel Gurría, Secretary-General of the Organization for Economic Cooperation and Development the Transatlantic Leadership Award at its Annual Ambassadors’ Dinner.  In his acceptance speech, Secretary-General Gurría called for renewed cooperation between Europe and the United States to “jump-start the engine of global growth” and stressed the importance of the potential Transatlantic Trade and Investment Partnership as an opportunity to set “the gold standard for deep and comprehensive global trade and investment integration.”  The event was co-hosted by the 32 European Ambassadors of the Ambassadorial Host Committee.

Click here to read Secretary-General Gurría's remarks.

On October 30, 2013, The European Institute convened a special meeting with The Honorable Andrey Slepnev, Trade Minister for the Eurasian Economic Commission, to discuss the evolution of the Eurasian Economic Union and the implications for trade relations with both the EU and the United States. The discussion was moderated by Matthew Rojansky, Director of the Kennan Institute at the Woodrow Wilson International Center for Scholars.

By Selen Akses, Researcher at the Economic Development Foundation(IKV) in Istanbul    

The United States and the European Union are currently negotiating a trade agreement (Transatlantic Trade and Investment Partnership Agreement) that would create the largest integrated market in the world, yet a key emerging player, Turkey with the world’s 16th largest economy, could be left out of the agreement. Turkey could experience a major and potentially negative impact due to its previously established Customs Union with the European Union.

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