Saving the Euro: A Pyrrhic Victory?
Nicholas Crafts, Professor of Economics, University of Warwick; Director of ESRC Centre for Competitive Advantage in the Global Economy
Chair: André Astrow, Senior Consultant and Project Director, International Economics, Chatham House
The euro has survived a lengthy recession and an ominous legacy of public debt, but the fundamental flaws in its original design have not been corrected. Fiscal consolidation alone seems inadequate to address the fiscal sustainability problems of highly-indebted economies in the euro area. The author of the Chatham House-CAGE Briefing Paper Saving the Euro: A Pyrrhic Victory? will argue that the crisis has inflicted significant damage to future growth prospects in the eurozone, both through the debt legacy it has created and in terms of the impetus it has given to detrimental supply-side policies.
The briefing paper is the eleventh publication in the Chatham House-CAGE series, published in partnership with the Centre for Competitive Advantage in the Global Economy (CAGE) at the University of Warwick.
Attendance at this event is by invitation only.