We think you have liked this presentation. If you wish to download it, please recommend it to your friends in any social system. Share buttons are a little bit lower. Thank you!
Presentation is loading. Please wait.
Published byGuy Selling
Modified over 2 years ago
1 The Eurozone Crisis: Causes and Solutions Klaas Knot President, De Nederlandsche Bank Asia Society, Hongkong 15 October 2012
2 The eurozone and the global economy
3 European debt crisis
4 Some convergence prior to the crisis... Cumulative growth differentials with Germany
5 … but with borrowed money … Average annual growth rate of credit to private sector: 2000-2011
6 … and accompanied by inflation… Cumulative differentials compared to EMU total : 2000-2007
7 …reflecting wage developments
8 Current account balance percent of GDP
9 Governments went back to old habits Start EMU Budget deficits (% Gdp) Improvements in the run-up to EMU but relapse after admission
10 “ On/off ” market discipline
11 A stable design of EMU Strengthening growth potential and competitiveness Politically independent enforcement of the fiscal rules, guarding the debt ceiling of 60% European supervision, resolution and DGS Eurobonds as the capstone of EMU?
The Eurozones Three Crisis Karl Whelan University College Dublin June 11, 2012 Infiniti Conference.
Annual Growth Survey macroeconomic report Brussels, 6 February 2013 Kees van Duin Policy Coordination and Strategic planning Directorate General for Economic.
The Euro Area Crisis: Origins, Prospects and Implications for the World Economy and Global Governance Domenico Lombardi UNLV, April 3, 2013.
The problematic natures of the EMU project Malcolm Sawyer University of Leeds.
The European (Debt) Crisis: Who is the Worse Guy – Germany or Greece? Ukrainian Academy of Banking of the National Bank of Ukraine International Competition.
The European Monetary Union (the eurozone)
Fiscal Policy Challenges Facing the New Member States in a Period of Large Capital Inflows & Substantial Investment Requirements Armin Riess European Investment.
Wiener Institut für Internationale Wirtschaftsvergleiche The Vienna Institute for International Economic Studies Challenges of Real Convergence.
J.P.Morgan Chase S T R I C T L Y P R I V A T E A N D C O N F I D E N T I A L The Euro-Zone Crisis and the Global Economy Prof. Jacob A. Frenkel Chairman,
WHAT IS THE GLOBAL ECONOMIC OUTLOOK? Paris, 6 May 2014 Angel Gurría, Secretary-General and Rintaro Tamaki, Deputy Secretary-General and Acting Chief Economist.
The Stability and Growth Pact Frederick University 2013.
Euro Challenge 2013 Delegation of the European Union to the United States The euro crisis: an update.
Fiscal Consolidation and Public Investment: Friends, Foes, or Neutral Partners? A Look at Bulgaria and Romania Armin Riess European Investment Bank International.
The Eurozone context Is there a proper identification of the crisis’ causes? Lucian Croitoru.
Recent Developments and Outlook Ministry of Finance January 2011 State of Israel Ministry of Finance.
1 Introductory remarks European legislative initiatives Jerzy Pruski Bank Guarantee Fund Poland EFDI - IADI Conference Strengthening Financial Stability.
C A U S E S International factors: -Increased Access to Capital at Low Interest Rates -Heavily borrow -Access to artificially cheap credit -Global finance.
Euro area economic situation and the foundations for growth Euro Summit 14 March 2013.
Research Department 1 Global Economic Crisis and the Israeli Economy Herzliya conference Dr. Karnit Flug Research Director, Bank of Israel February 2009.
The Baltic States: Recovery, Outlook, and Challenges Economic Crossroads: From Recovery to Sustainable Development in the Baltic States and the EU Riga,
© 2017 SlidePlayer.com Inc. All rights reserved.