European Union Debt Crisis

Source: Getty
TV/Radio Broadcast C-SPAN
The euro crisis continues to hamper Europe's growth, and the risk of contagion hangs in the air.
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Former Czech Republic President Vaclav Klaus and Carnegie's Uri Dadush talked with C-SPAN about the economic and political challenges facing the European monetary union. While President Klaus referred to European integration as a historical "accident,"  Dadush suggested that, although the enactment of the monetary union may have been premature, greater institution building and structural reforms will help alleviate the crisis. Furthermore, Dadush argued that even though there are shortcomings to the establishment and the euro crisis is far from over, the only rational way to overcome the crisis is to move forward and undertake more steps in the integration process, as disassembling the eurozone was not rational given the costs.

This interview was originally broadcast on C-SPAN.

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About the International Economics Program

The Carnegie International Economics Program monitors and analyzes short- and long-term trends in the global economy, including macroeconomic developments, trade, commodities, and capital flows, drawing out their policy implications. The current focus of the program is the global financial crisis and its related policy issues. The program also examines the ramifications of the rising weight of developing countries in the global economy among other areas of research.


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