Europe’s economic crisis and the missing financial recovery
Following severe financial market turmoil and sovereign stress, the euro area economy has finally emerged from recession and is recovering. However, the pace of the recovery is slow, and in many euro area countries, economic activity remains below pre-crisis levels. The contrast with the US economy, which is more than 10 percent above its 2008 GDP level in real terms, is particularly sobering. What is missing? In his presentation, Mr. Franks will focus on the crisis legacies that are weighing on Europe’s banking and wider financial sector, and which are hindering a broader recovery. Strong policy efforts at both the national and the European level are needed to facilitate fresh lending and wider access to capital markets.
Date: 26 October 2015, 17:00 (Monday, 3rd week, Michaelmas 2015)
Venue: St Antony's College, 62 Woodstock Road OX2 6JF
Venue Details: Seminar Room, European Studies Centre, 70 Woodstock Road, Oxford OX2 6HR
Speaker: Jeffrey Franks (IMF)
Organising department: European Studies Centre
Organiser: Julie Adams (St Antony's College, University of Oxford)
Organiser contact email address:
Hosts: David Vines (Balliol College, University of Oxford), Adam Bennett (St Antony's College, University of Oxford)
Part of: Political Economy of Financial Markets Programme
Booking required?: Not required
Audience: Public
Editor: Julie Adams