Saturday, March 9. 9:30 – 11 am.
IMPERFECT UNION: THE EUROZONE IN CRISIS
After World War II, the leaders of Europe established greater economic ties to help prevent future continental conflict. Now, more than half a century later, the EU faces the biggest financial crisis in its history, and the future of the Eurozone itself is under question. What’s preventing the world’s second largest economy — and America’s largest trading partner — from pulling itself out of recession?
Moderator: Dr. Lewis Mandell, Professor of Finance Emeritus at SUNY – Buffalo and Senior Fellow in the Aspen Institute’s Initiative on Financial Security in Washington, DC. In his 42 year academic career, Lew has held professorships at a number of leading universities, most recently the University of Washington where he held the Kermit Hanson Professorship in Finance and Business Economics.
SUGGESTED BACKGROUND READINGS
Is This the Year That the Eurocrisis Ends? Christian Science Monitor, January 7, 2013. The European Central Bank has moved to shore up the euro, investors are more confident, and European leaders are surprisingly upbeat. But critics warn that Europe is not out of the woods. http://www.csmonitor.com/World/Europe/2013/0107/Is-this-the-year-that-the-eurocrisis-ends
Send in the Clowns: How Beppe Grillo and Silvio Berlusconi Threaten the Future of Italy and the Euro. The Economist, March 2, 2013. http://www.economist.com/news/leaders/21572763-how-beppe-grillo-andsilvioberlusconi-threaten-future-italy-and-euro-send
The Eurozone Crisis Explained in 5 Simple Graphs. Christian Science Monitor. http://www.csmonitor.com/World/Europe/2011/1202/The-eurozone-crisis-explained-in-5-simplegraphs/Debt-as-a-percentage-of-GDP
A Very Short History of the Crisis. The Economist, November 12, 2011. To understand the politics of the euro, it is necessary to look at its causes. http://www.economist.com/node/21536871
The Euro’s House Divided. Project Syndicate, March 1, 2013. The European Commission’s latest economic outlook paints a disheartening picture of a deep and persistent economic and social divide within the eurozone. Such a gulf within a monetary union cannot be sustained for very long. http://www.project-syndicate.org/commentary/theeurozone-s-persistent-regional-disparities-by-jeanpisani-ferry
The Crisis of Europe: How the Union Came Together and Why It’s Falling Apart. Foreign Affairs, September/October 2012. After World War II, Europe began a process of peaceful political unification unprecedented there and unmatched anywhere else. But the project began to go wrong in the early 1990s, when western European leaders started moving too quickly toward a flawed monetary union. Now, as Europe faces a still unresolved debt crisis, its drive toward unification has stalled — and unless fear or foresight gets it going again, the union could slide toward irrelevance. http://www.foreignaffairs.com/articles/138010/timothy-garton-ash/the-crisis-of-europe. Free registration required.
EUObserver.com. This site provides a summary of European press on issues related to the European Union. http://euobserver.com.