PPT-The European Debt Crisis

What caused the global recession of 08 And thus caused the European debt crisis America Sneezes and the World gets Pneumonia The Housing bubble bursts 2006 The bubble burst By August 2008 92 of all US mortgages outstanding were either delinquent or in foreclosure By September 2009 this had risen to 144 Between August 2007 and October 2008 936439 US residences completed foreclosure. Average annual GDP growth rate (%), 1999–2008:. The first years (until the Great Crisis). Asymmetries: some evidence of decrease:. Stage two: the public debt crisis in the . Eurozone. However negative growth and large budget deficits . Beber. Senior Tutor. College Lecturer in . Economics. Sidney Sussex College. Cambridge CB2 3HU. mb65@cam.ac.uk. http://people.ds.cam.ac.uk/mb65/. Arts, Humanities and Social Sciences Summer . School 2013. Calling Germany on its hypocr isy in the Eurozone debt crisis Albrecht Ritschl argued that debt to Germany under the Marshall Plan held important lessons for solving the Greek economic crisis What was Steve Keen. University of Western Sydney. Debunking Economics. www.debtdeflation.com/blogs. www.debunkingeconomics.com. Macroeconomics . Before . the Crisis: Triumphalism. “Macroeconomics . was born as a distinct field in the 1940's, as a part of the intellectual response to the Great . John FitzGerald. Oireachtas. Committee, 26. th. October 2011. www.esri.ie. Introduction. Origins of Crisis. Tackling the Crisis. Exit from the Crisis. Everything depends on solving Euro zone crisis. Steve Keen. Kingston University London. IDEAeconomics. Minsky Open Source System Dynamics. www.debtdeflation.com/blogs. When the economic history of our epoch is written…. There will be at least 3 themes:. Conference on Alternative Solutions to the Debt Crisis. Brussels, Belgium March 7, 2014. LENDERS. Commercial Banks, International Financial Institutions, Buyers of . bonds, . Governments. Who make money from the interest on the loans – especially on non-concessional and only moderately concessional loans. Beber. Senior Tutor. College Lecturer in . Economics. Sidney Sussex College. Cambridge CB2 3HU. mb65@cam.ac.uk. http://people.ds.cam.ac.uk/mb65/. Arts, Humanities and Social Sciences Summer School 2013. Steve Keen. Kingston University London. Asymmetric Return Capital. IDEAeconomics. Minsky Open Source System Dynamics. www.debtdeflation.com/blogs. “Nobody could have seen it coming…”. “. The Queen asked me. Peter O’Shea. Monash. University, January 2013. What Sort of Crisis?. . Is it really a euro crisis? It wasn’t a problem when economic growth was strong in mid 2000s. Yet debt was high then.. Slovakia, Germany and Estonia among the . Layna. Mosley. Dept. of Political Science. UNC Chapel Hill. mosley@unc.edu. Cyprus, March 2013. Cyprus joined EU in 2004, and the . eurozone. in 2008. Outline. The making of Economic and Monetary Union (EMU). ‘Third World’ Debt Crisis . . External debt in the global South. . Impacts: In 1980s. Latin America. Population living in poverty increased from 144 million to 211 million. Africa. . Population living in extreme poverty increased from 205 million to 330 million. College Lecturer in . Economics. Sidney Sussex College. Cambridge CB2 3HU. mb65@cam.ac.uk. http://people.ds.cam.ac.uk/mb65/. Arts, Humanities and Social Sciences Summer . School 2013. One Market, One Money?. Layna. Mosley. Dept. of Political Science. UNC Chapel Hill. mosley@unc.edu. Cyprus, March 2013. Cyprus joined EU in 2004, and the . eurozone. in 2008. Outline. The making of Economic and Monetary Union (EMU).