MIT: Independent Activities Period: IAP

IAP 2013

Politics, Economics, and the Euro Area Crisis.

Athanasios Orphanides

Jan/29 Tue 10:30AM-12:00PM E51-315

Enrollment: Unlimited: No advance sign-up

Until its tenth anniversary and even after the start of the global financial crisis, the European economic and monetary union was a considered a success. Since 2009, however, the euro area is mired in a crisis that presently threatens the survival of the monetary union and even the European Union in its current form.   This session will briefly review the framework of the euro area and some of the weaknesses that have been playing a role in perpetuating and magnifying the crisis.  One focus will be the governance of the euro area, the absence of a representative government that can decisively tackle the crisis, and the role of political considerations at individual member states.  Another focus will be the role of the ECB and economic considerations for the euro area as a whole.  Questions serve as a backdrop:  Will the euro area survive? What are possible paths towards a resolution of the crisis?   

Sponsor(s): Sloan School of Management, Economics
Contact: Athanasios Orphanides,