Speaker: Prof. Emeritus Joan Muysken
Title: The Euro Crisis and Economic Growth
Date: 19 April 2014
Description: After the financial crisis in 2008 economic growth in the Euro area stagnated. While economic growth in Asia remained relatively high during the crisis and thereafter, and the US has recovered, economic growth in the Euro area remains low. Moreover, the growth of the Dutch economy is lagging behind in an almost dramatic way.
In this lecture these phenomena are analysed in more detail and possible causes are discussed. Interesting questions are to what extent the following factors play a role in the poor performance of the Euro Area:
– Market rigidities (for instance the labour markets, or the financial markets)
– Austerity measures (untimely and excessive reductions of budget deficits)
– Lack of policy coordination (between fiscal policies of the member states, or between their regulatory policies — for instance, the banking regulations)
Background: On September 15, 2008, Lehman Brothers, one of the most prestigious players on Wall Street, filed for bankruptcy. This marked the beginning of the biggest financial crisis since the Great Depression in the 1930s. Is the end of this crisis near or still far away? In the past few months, it has seemed as if things are slowly getting better in Europe and the US. But have sufficient changes been made for a sustainable future or are we back on the same track with even more to come and lots of bubbles still to burst? In this series we look at the opportunities and the threats.
More information: Studium Generale