Dennis Snower: The Euro Crisis - The German Perspective
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Welcome to our new video series titled "New Economic Thinking." The series will feature dozens of conversations with leading economists on the most important issues facing economics and the global economy today. This episode features Kiel Institute President Dennis Snower talking the euro zone crisis. Snower, a member of the Institute's Council on the Euro Zone Crisis, says that euro zone reforms should be embedded in a national constitutional process rather than imposed by a bunch of faceless unelected "eurocrats" from Brussels. And he explains why this political dimension to the crisis is key for any attempts to try to save the European project. Watch the interview to see what he has to say!
Comments
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chilling... all this "automatic" mechanisms rather than preventing getting into trouble in the first place. One solution for all!!!
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Thank you for this contribution! Unfortunately, the only neutral thing Mr Snower said, was at the very beginning, i.e. that creditor and debtor countries have conflicting interests. The rest of the video sounded more like the usual propaganda deflecting the issue that if we want to keep the Euro and we want a federal union, countries from the center (mainly Germany) should be willing to concede tax transfers to countries at the periphery. To leave this fundamental point to an undefinite future where all Europeans thanks to the Erasmus programme would have developed a sense of common interest, is pure utopia. In the meantime, European economy dies out and an entire generation of young Europeans in sounthern countries is growing with no hope for a future decent lives.
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He sounds like a paid German emissary
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There is a 60% limit on debt to GDP, but a 2% TARGET on inflation. Germany of all countries should understand that it is crucial to keeping a common currency to have the same inflation (and does); but it stayed nearly 1% bellow target, without rises in real estate prices while others had bubbles and were 1% above target, for a decade almost, without a peep. It's simply malicious; and served as righteousness, on top of it.
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Germany is organizing the new suicide of Europe.
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That's great, let's expand the Erasmus Program so we all can be more like Germans
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If you get credit for moderat positions, it´s probably not about the Topic
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Thank you for this moderate german Position. Moderat
13m 53sLenght
11Rating